JPY outperformed across G10 overnight, amid.....>

YEN: JPY outperformed across G10 overnight, amid the backdrop of renewed

concerns over global economic growth. Sharp falls in Chinese equities pressured

USDJPY through the 100 & 200-dma's to Y110.95 (21-dma). This brings the 100-wma

& 38.2% retracement of Y104.56-114.55 back into view at Y110.82/73.

- Scandi/JPY sits bottom of the pile post ECB, with the market continuing to

push back the odds of the Riksbank and Norges Bank tightening. NOKJPY touched

Jpy12.5825, its lowest levels since Jan 7. A downside break of Jpy12.5000 opens

the Jan 4 low at Jpy12.3767, ahead of the flash crash lows at Jpy11.9973.

- EURJPY slipped to Y124.28 with downside focus on the 38.2% fibo of 2019 range

at Y124.14, below here opens a move towards Y124.00 (Y124.05 - cloud top).

- GBPJPY based at Y145.13, expect further support on approach to Y145.00, ahead

of the 50% retracement of Y141.01-148.57 & 200-dma at Y144.79/67.

- NZDJPY trades below the 100 & 200-dma's to Y75.02 and will be monitored at the

close.

- CADJPY eased to Y82.42, near-term support at Y82.20/30 which registered a

series of previous lows, a break opens the 38.2% fibo of Y76.98-85.23 at Y82.08.