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The JPY crosses have continued to ease, with....>

YEN: The JPY crosses have continued to ease, with talk that Japanese levered
accounts have driven the move amid broader risk off flows.
- USDJPY trades at 109.50, breaching yesterdays' low of 109.53. Bears now focus
on the May 11 low at 109.13.
- EURJPY has crossed below the prior YtD low of 128.22, to deal at ~128.05. The
next level of support is noted at 127.90, the 1.618 swing of 129.23-131.38 move,
followed by the August 2017 monthly low of 127.54.
- AUDJPY trades at 82.60, eying the 55-DMA at 82.52.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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