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USD/JPY is steady at Y111.41, with.......>

DOLLAR-YEN: USD/JPY is steady at Y111.41, with Japan observing the longest
post-WWII market closure, due to the extended Golden Week holidays. Japanese
markets will reopen on May 7.
- The rate closed 23 pips worse off yesterday, as softer than exp. Chinese PMI
data ignited some downside momentum in Asia-Pac trade, while broader greenback
weakness limited recovery attempts later in the day.
- Initial support noted at the 50-DMA/55-DMA, situated at Y111.36/29. A break
below would bring the cloud Kijun Sen at Y111.21 into view. Meanwhile, bulls
look for a move through the 200-DMA at Y111.51 towards Y111.61/69, which
represents the 100-DMA/yesterday's high.

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