The Easter Monday holiday in most major international markets suggested low liquidity conditions for today's New York session, giving many traders reason to take the day off. Those traders who did show discovered that a case was building during the first 30 minutes for a bounce in the yen crosses. An aggressive entry for a long trade on the GBP/JPY came about 90 minutes prior to a more conservative entry which followed the release of U.S. existing home sales figures for February. Two logical targets -- the first an hourly 200 ema, the second a major psychological level -- were achieved within the hour following the housing news. Profits from these trades during the pound yen's climb ranged from 150 to 235 pips, depending on entry & exit.