JPY is on the back foot as safe havens are......>

YEN: JPY is on the back foot as safe havens are edging lower following the

announcement that US President Trump is set to meet with North Korean leader

Kim.

- USDJPY trades  at highs above 106.60, with EURJPY piercing 131.30 & AUDJPY

last at 83.05.

- USDJPY bulls need a close above Y107.19 to ease bearish pressure. Above

Y108.03 is needed to hint at a correction to Y109.79-110.47 with above Y108.42

to confirm. Daily studies have room to move before O/S becomes an issue. Bears

now need a close below Y105.22.

- In EURJPY bears now look for a close below Y129.33 to initially pressure the

55-WMA and reconfirm overall focus on Y125.80-127.54, Bulls now need a close

above Y132.18 to ease bearish pressure and shift initial focus to Y133.05-134.16

where 55 & 100-DMAs are situated.

- AUDJPY topside follow through is a little lacking with bulls still needing a

close above Y83.32 to gain breathing room and above Y84.89 to target key DMAs

clustered Y86.29-59. Bears now need a close below Y82.03 to gain breathing room.