The JPY crosses stuck to their traditional......>

YEN: The JPY crosses stuck to their traditional role as a bell weather for

broader risk sentiment on Monday, with USDJPY printing lows of 107.00 in early

Asia-Pacific hours. USDJPY bulls took comfort in support emerging at 106.57 last

week but still need a close above the lows from Feb 09 & 12 (108.03-42). The

pair remains gently offered after the lack of topside follow through on Friday.

In saying that, bears still need a close below the 55-DMA (106.96) to gain

breathing room and below the 21-DMA (106.47) to shift initial focus lower.

- EURJPY's break of 131.99 lacked follow through with bears now needing a close

below the April 12 low (131.78) to target the 21-DMA (131.23). Bulls continue to

look for a close above the 100-DMA (133.07) to end bearish hopes and shift

overall focus back to YtD highs. The Bollinger top (133.06) and overbought

studies remain key concerns for bulls.

- AUDJPY's aggressive rejection above the 55-DMA (83.40) & 100-WMA (83.63) on

Friday was less than ideal for bulls with daily studies overbought. Bulls now

need a close above Friday's high (84.08). The 82.58 support is key this week

with bears needing a close below to ease bullish pressure.