With risk back on the table after the Italian...>

YEN: With risk back on the table after the Italian budget remarks overnight, JPY

crosses largely pared yesterday's steep losses. EURJPY comfortably holds above

the 100-dma (Y131.00), gains extended to Y131.98 before fading. Bulls target a

break of the Oct1 high at Y132.46 for resumption of the uptrend, before

challenging Y133.00, a level which has been hard to close above in recent

sessions. GBPJPY improved to Y148.01, targeting a break of the 200-dma at

Y148.20. NZDJPY held above channel base support at Y74.54 to briefly make a show

above Y75.00. Failure to break could see a reversal to down trendline resistance

at Y76.11. AUDJPY flirted with the 100-dma (Y81.91) before drifting toward the

Y81.65/75 area. CADJPY remains at elevated levels with focus on a break of

Y89.15/20 (Y89.17 - Oct1 high).