EUR/JPY sits at Y128.97, operating.........>

EURO-YEN: EUR/JPY sits at Y128.97, operating within a ~20 pip range. JPY crosses

at session highs as BoJ Gov. Kuroda notes that he believes current MonPol

settings will bring about inflation in Japan. However, Kuroda did note that the

"possibility of reaching the inflation target in FY2020 is low." 

- The rate slipped initially in yesterday's trade on the back of broader risk

off flows triggered by concerns over global trade, before moving higher in early

European hours. Soft open of U.S. equities marked another slip, which was,

quickly reversed, allowing the rate to finish higher on the day. 

- Nikkei 225 is off of its lows, but remains in negative territory. 

- Bulls need to reclaim yesterday's high at Y129.07 before challenging the Nov

14/15 highs of Y129.23, while bears keep an eye on the 21-DMA at Y128.62, as a

break below would open up yesterday's low at Y128.47.