JPY has reversed some of Thursday's risk on.....>

YEN: JPY has reversed some of Thursday's risk on inspired losses as US Pres.

Trump' revealed that he has ordered the US Tsy to consider $100bln in additional

Chinese tariffs. USDJPY trades at 107.15 after it tested 107.00, EURJPY last

deals at 131.20, with AUDJPY last at 82.20 after a brief look below 82.00.

- Support emerging in USDJPY allowed the pair to close > the 55-DMA (107.28) the

first close above this MA since early Jan, although the cross has moved below

the 55-DMA on the aforementioned Trump comments. Bulls now focus on the low from

Feb 9 (108.03), although daily studies are approaching overbought levels. Bears

now look for a close below 107.15, before targeting a move to 106.69.

- EURJPY remains supported around the 55 & 200-WMAs (129.30) and capped ahead of

the 200-DMA (132.12) with the 100-DMA offering key topside resistance (133.06).

- With the AUD susceptible to US-China trade relations, the pair under performed

the other JPY crosses. The low from Mar (82.70) continues to act as the key

resistance level, while initial support is now noted at the 21-DMA (82.16),

although that was breached earlier. Bears look for a close below hourly support

from Wednesday (81.93).