JPY tracked risk sentiment on Wednesday, with...>

YEN: JPY tracked risk sentiment on Wednesday, with JPY crosses ultimately

finishing higher as equities recovered & trade war rhetoric softened, after the

risk off move after China announced its retaliatory measures to the proposed US

tariffs.

- USDJPY bulls will take comfort on support emerging on dips during Wednesday

morning's risk off flows. Bears need a close below 105.29 to add to confidence &

below 104.28 to confirm focus on 99.08-101.15 where 2016 lows are noted. The

55-DMA (107.33) is now key resistance.

- EURJPY currently remains supported around 55 & 200-WMAs (129.39) and capped

ahead of the 200-DMA (132.11) with the 100-DMA (133.06) presenting the key

topside level of interest.

- AUDJPYs recent recovery from 2018 lows has seen the pair work its way back

towards 82.70 resistance, bulls look for a close above here to open up a move

higher. Initial support is now noted at the 21-DMA (82.16), with bears looking

for a close below hourly support from April 4 (81.93) to return initial focus to

retests of 2018 lows.