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Improved risk appetite spilled over into........>

YEN: Improved risk appetite spilled over into Europe following Friday's
announcement from President Trump of an indefinite suspension of tariffs on
Mexico. Global equity futures sit in positive territory with the JPY lower
across the board.
- USDJPY improved to Y108.68 with bulls looking to clear Y109.00 to extend the
uptrend. However, the bearish MA crossover (50 below 100) could keep a lid on
the pair.
- EURJPY confirmed a falling wedge chart pattern last week, with the bullish
reversal extending to Y122.99. A break of Y123.00 brings the 38.2% fibo of the
May-Apr fall at Y123.08 & upper 1.0% 10-dma envelope back into view at
- CADJPY holds toward the upper end of its Y81.66-96 range with topside focus on
a break of the 50% fibo of Y84.35-79.97 at Y82.16. Above here opens a run at the
May 22 high & 100-dma at Y82.62/81.

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