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The JPY remained under pressure on Tuesday,.....>

YEN: The JPY remained under pressure on Tuesday, with risk off flows pressuring
safe havens, although the JPY has lodged modest gains in early Asia-Pacific
dealing. USDJPY trades at 107.00, EURJPY trades at 132.30 while AUDJPY trades at
- Bears look for a close < 21-DMA (106.30), while the high from Apr 05 (107.49)
now provides resistance, with the low from Feb 09 (108.03) providing the next
level of notable upside interest above that. It is also worth noting that there
is $1.09bln worth of USDJPY 107.00 option expiries rolling off at the NY cut.
- EURJPY's recovery from dips back towards the 21-DMA (130.95) has resulted in
closes above the 55 & 200-DMAs with immediate focus on the 21-WMA & 100-DMA
(133.05). The Bollinger top (132.44) is the key concern for bulls, with bears
looking for a close below Monday's high (131.99) to ease bullish pressure.
- AUDJPY consolidated above the long standing resistance level of 82.70, with a
bullish close registered on Tuesday. Bulls now look for a close above the 55-DMA
(83.75), while 82.70 provides initial support in front of Friday's low (81.87).
- A speech from BoJ Gov Kuroda provides immediate headline risk for JPY traders.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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