JPY crosses witnessed profit taking off the.....>

YEN: JPY crosses witnessed profit taking off the highs overnight, but despite

this remain at elevated levels into Europe. USDJPY briefly made a show above

Y113.00, touched Y113.03 before meeting reported Japanese exporter supply. Bulls

target a break of the Jan 8 ytd high at Y113.39. EURJPY challenged but failed to

reclaim the Y133.00 handle, targeting a break of the Sep21 high at Y133.13.

GBPJPY closed above the 200-dma (Y148.29) yesterday and consolidates in a narrow

Y148.57-96 range. Bulls target a break back above the Y149.00 level to re-test

the Sep21 high at Y149.71, ahead of the Y150.00 psychological level. NZDJPY

spiked to Y75.53 after the strong ANZ Business Confidence release overnight and

comfortably holds above the 100-dma (Y75.18), last Y75.25. AUDJPY breached the

Y82.00 level (100-dma Y81.94). Next resistance at Y82.68 which represents the

76.4% retracement of Y83.92-78.68), above Y83.00 would see bulls target the

200-dma at Y83.28.