JPY sits top of the pile in early Europe,.......>

YEN: JPY sits top of the pile in early Europe, risk-off was the overriding theme

overnight on the back of weaker global equities and investors seeking clarity

over US-China trade talks.

- USDJPY moved back under the 200-dma (Y111.49) and holds toward the base of its

Y111.35-77 daily range. Expect support on approach to the Y111.00 level which

also holds the 38.2% retracement of Y109.71-111.82. While bulls look to clear

Friday's post-jobs data high at Y111.82 to open a move toward Y112.00.

- EURJPY briefly traded under Y125.00, before finding support from the 50%

retracement of Y126.18-123.82. Consolidation above brings the Y125.50/55 area

into view which has registered a series of previous highs, a break opens the

100-dma at Y125.95.

- AUDJPY cleared the 100-dma (Y79.24) with the downtrend briefly extending back

under Y79.00. Up trendline support off the Mar 25 low comes in at Y78.95, ahead

of the 50-dma at Y78.83.

- NZDJPY looks set to register its third straight session of losses, despite the

recent bullish signal which saw the 50-dma crossover the 100-dma.