USD/JPY was content to consolidate yesterday’s gains holding above Y77.00 in a tight Y77.06-21 range after opening the session at Y77.11. Some demand was seen into the Tokyo fixing with an early move to Y77.17 before easing to the lows. The pair then edged up again to Y77.21, but fell short of yesterday’s NY highs of Y77.32 and stops which are in place on a break of Y77.40. Bids are now layered from Y77.00 down to Y76.70, with exporter offers seen ahead of the Y77.40 stops. EUR/JPY traded Y99.86-100.05 after opening at Y100.00. Stops are set up through Y100.10, with offers above at Y100.25/35. AUD/JPY eased from Y80.41 to Y80.17, and GBP/JPY was steady in a tight Y119.32-56 spread.
EasyForexNews Research Team