[AndrewWoo]

USDJPY


Back above the head and shoulders neckline at 94.12 and is likely to remain choppy in the short term as yields and stocks have started to move up. Near term resistance is at 94.88 followed by 95.63. A move back below the neckline (94.12) would not be surprising over a period of several days though for now the pair is
likely to consolidate.

G10JPY Index


• Approaching the trend resistance and the 55 week moving average again at 91.10. A failure to rally through there would still warn us that cross / JPY markets are at risk of falling over the coming days while a break here would suggest a test of the trend highs again. (up is JPY weakness)

EURJPY


Approaching good resistance at 135.25 where the short term trend resistance converges with the 55 week moving average. A rally through here would suggest a test of 136.90 and possibly 139.26 while a hold of it would still suggest further choppy price action and the risk of an eventual fall back down.

GBPJPY


The high today has been a re-test of the previous rising trend line which comes in at 156.40. A continued hold of this would be an interesting development that could see GBPJPY turn down from here, while a rally through would be a bullish development suggesting a test of the resistance level at 160.27 in the short term.