Risk-on flows spill over into Europe as the.....>

YEN: Risk-on flows spill over into Europe as the JPY sits at the bottom of G10.

Headlines overnight from Chinese Vice President Wang noted that China is wiling

to talk to the US on issues of mutual concern and work for a solution on trade

acceptable to both sides. Japanese equities also underpinned which has seen

USDJPY touch Y113.44, its highest levels in a month. Next resistance is seen at

Y113.80/82 (76.4% Y114.55-111.38, 1.618% swing Y112.89-111.38), expect supply

behind on approach to the Y114.00 level. EURJPY improves to Y129.46 and is

expected to encounter strong resistance in the Y129.45/60 zone from the 100-dma,

38.2% of 2018 range & long-term pivotal resistance. GBPJPY comfortably holds

above the 200-dma, extending the move through Y148.00. AUDJPY prints Y81.92,

targeting a break of Y82.00 & the 200-dma at Y82.17. NZDJPY improves to Y75.59,

before stalling around down trendline resistance off the Feb highs. Above here

and bulls focus turns to the 200-dma at Y75.93.