JPY underperformance spilled over into Europe...>

YEN: JPY underperformance spilled over into Europe and is currently registering

losses across the whole of G10. Firmer Japanese equities and a wider than

expected Japanese Trade balance seen attributed to the move.

- USDJPY improves to Y110.94 targeting a topside break of Y111.00 to bring the

200-dma into view at Y111.31.

- EURJPY closed above the 50-dma for the first time since mid-December, extended

through down trendline resistance to Y125.94, before meeting resistance from the

50% fibo of Y133.12-118.71.

- GBPJPY breached the 200-dma (Y144.68) to Y145.04, before bearish divergence on

the 9-day RSI pared light gains. Also worth mentioning it has not closed above

the 200-dma since mid-November.

- CADJPY comfortably holds above the 84 level with bulls topside focus on the

100-dma at Y84.15, above here opens the 61.8% fibo of Y89.22-76.98 & 200-dma at

Y84.54/65.

- AUDJPY touched Y79.57 with near-term resistance from the Feb 5 high & 100-dma

Y79.84/86.