JPY underperformed on Monday, with a.....>

DOLLAR-YEN: JPY underperformed on Monday, with a largely positive session for

U.S. equities (ex-NASDAQ), as well as a stronger than expected U.S. ISM

non-manufacturing report, lending support to USD/JPY.

- Cross last deals at session highs of Y113.32 as Chinese Vice President Wang

notes that China is willing to talk to the U.S. re: trade dispute.

- Having based ahead of the 21-DMA on Friday, the recovery and subsequent close

above the 200-WMA keeps the bullish trend intact, with the rate consolidating

above the Y 113 level, shifting focus to the Oct 31 high at Y113.39, ahead of

the Oct 8 high at Y113.94. On the downside, a close below the 21-DMA, at

Y112.56, returns the outlook neutral with bears targeting broken trendline

resistance-turned-support at Y112.30.