Flat session in Asia for the JPY with Japan on holiday and interest virtually non existent ahead of the Christmas holiday. USD/JPY opened at Y78.17 edging up to $78.23 before sell orders from Japanese exporters were triggered, and the pair slumped back to lows of Y78.06, settling around Y78.10. Offers remain towards Y78.30 with stops above and through Y78.60. Bids start from Y78.00 and trail down to Y77.50. EUR/JPY also performed woefully moving up to Y102.17 from around Y102.00 then slipping back to settle around Y102.05. Stops are rumored up through Y102.60 with support towards Y101.80 and Y101.50. AUD/JPY headed up to Y79.51 from opening lows of Y79.15 before balancing around Y79.40. NZD/JPY pushed up to Y60.64 before news of an earthquake rocking Christchurch led a sell off to Y60.39, but the move later unwound as reports of damage were minimal and the cross recovered to Y60.57.
EasyForexNews Research Team