JPY crosses continue to trade at the whim of....>

YEN: JPY crosses continue to trade at the whim of global risk sentiment, with

Trumps Syria tweet storm providing the catalyst for the crosses to move lower on

Wednesday, although they now trade off of worst levels. Modest JPY supply was

evident heading into this morning's Tokyo fix.

- USDJPY bulls failed to capitalise on the close above the 55-DMA last Thursday

with the sell-off providing bears breathing room. Bears now looks for a close

below the 21-DMA (106.30) while key resistance is found at the April 05 high

(107.49).

- EURJPY bulls have so far failed to capitalise on the close above 55 & 200-DMAs

with immediate focus on the 100-DMA (133.06). The Bollinger top (132.45) is the

key concern for bulls. Bears now look for a close below the April 09 high

(131.99) to ease bullish pressure

- AUDJPY tested 82.70 to the the downside on Wednesday, but couldn't manage a

convincing break of the level. Bulls now look for a close above the 55-DMA

(83.75), with initial support now found at the high from April 06 & 09 (82.58).