JPY has benefitted from the risk off nature.....>

YEN: JPY has benefitted from the risk off nature of the session, but has moved

away from its strongest levels as the Nikkei 225 reverses its earlier losses to

now trade higher. USDJPY sits at 105.80, with EURJPY at 13135 & AUDJPY at 82.55.

- The BoJ left the size of its purchases in the 1-5 & 10-25+ Year buckets

unchanged at today's Rinban operations, while Fed Governor Brainard sounded a

little more upbeat on the economy, although she did point to the asymmetry of

the inflation target.

- The YtD low of 105.22 remains integral for USDJPY. Resistance layers are

accumulating and bulls need a close above Y106.54 to gain breathing room.

- AUDJPY's although the Bollinger base and O/S daily studies are key concerns

for bears. Bulls now need a close above 83.32 to gain breathing room and above

84.89 to target key DMAs clustered 86.45-58. Bears need a close below 82.15.

- For EURJPY fresh 2018 lows lacked follow through, and we now sit around Mar

6's hourly support level. Bulls look for a close above the 21-DMA at 132.23 to

shift initial focus to Y133.05-134.16 where 55 & 100-DMAs are situated. Key

support is now noted at 130.58.