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USD/JPY has crept higher to start the....>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY has crept higher to start the week, in the lockstep with
U.S. equity index futures. Little in the way of material catalysts to move the
needle early on, with continued U.S.-China jitters lacking signs of a concrete
escalation. The rate changes hands at Y107.26, 21 pips better off.
- Local press outlets have circulated reports re: proposed relaxation of travel
restrictions among Japan, China and South Korea.
- Bulls see the 50-DMA/May 11 high at Y107.73/77 as their initial target and a
rally through there would open up Apr 16 & 17 highs of Y108.08. Bears need a
drop below May 11 trough at Y106.40 before returning focus to May 6 & 7 lows of
Y105.99, a bear trigger.
- Japan's economic calendar this week is headlined by today's flash Q1 GDP data.
Coming up later in the week, we have final industrial output (Tuesday), core
machine orders (Wednesday), trade balance & Jibun Bank M'fing PMI (Thursday), as
well as CPI (Friday).

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