With Japan out on a national holiday USDJPY.....>

YEN: With Japan out on a national holiday USDJPY has followed the broader USD

gyrations, operating in a tight 16 pip range, last at 109.08, virtually

unchanged on the day. EURJPY trades at 132.30, unchanged on the session, with

AUDJPY also virtually unchanged at 82.65. As a reminder on Friday the BoJ stood

pat & removed the language re: achieving its 2.0% CPI goal around FY19 from its

statement. This hasn't led to any notable material alterations re: the BoJ

outlook at investment houses.

- USDJPY's hesitation around the WMAs & DMAs between 109.48-110.47 is a concern

for bulls. Bears now look for a close below hourly support from April 23

(108.54) to shift focus lower.

- EURJPY's follow through above the 100-DMA (133.02) & 21-WMA (132.86) remains

lacking with focus back on 131.57-87 as daily studies correct from overbought

levels.

- AUDJPY's 84.06 resistance confirmed significance with an aggressive rejection

ahead of this level in past weeks leaving the pair looking heavy and flirting

with the 21-DMA (82.68).