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The major JPY crosses operate shy of Friday's...>

YEN: The major JPY crosses operate shy of Friday's risk on highs, with little in
the way of catalysts to offer fresh impetus in early dealing this week.
- USD/JPY last at ~Y110.50, edging higher into the Tokyo fix. The Aug 13 low
provides initial support at Y110.11, below here targets the Y109.98/88 area (100
& 200 dma). Bulls need a close above Y111.12 to shift the outlook positive,
opening up a move towards the descending trendline and daily cloud top
resistance at Y111.25/27.
- EUR/JPY failed to close above JPY 126.50 on Friday, with bulls needing a close
above the level to aim higher. The 38.2% retracement of the move from Y129.46 to
Y124.91 (Y126.65) represents initial resistance, while support is noted at the
Aug 16 low (Y125.29).
- Focus will fall on broader risk flows/Japanese CPI data due Friday.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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