Japan Monetary Base (YoY): 33.3% (August) vs 32.8%

USD/JPY was firmly placed in 119.70 at the time of the Tokyo open, despite a negative open in the Nikkei, while the Yen was riding the 20 SMA support on the hourly charts and testing the resistance of the 20 SMA on the thirty minute sticks. As we progress through the open, USD/JPY is up to test the 50 SMA on the 30 min sticks and looking for a firm placement here now that it is back on to the 120 handle with S&P 500 futures soaring.