Opened in Asia this morning at Y82.88 after posting highs in NY of Y83.09 following upbeat comments out of the FOMC and stronger retail sales data. The pair is continuing to build higher along with US yields, despite the lack of further easing from the BOJ yesterday. This morning’s session in Asia saw some early fixing demand and strong buying from CTA accounts lift the pair through the NY highs tripping some stops to Y83.29 before settling around Y83.20. Bids now sit at the Y83.00/10 and Y82.80 levels, with buy stops set on a break higher through Y83.30. EUR/JPY was steadily building higher, consolidating yesterday’s gains from Y107.97 NY lows. The cross pushed up from Y108.39 through some Y108.70/75 stops to Y108.80. More stops are in place on a break up through Y109.00. AUD/JPY pushed up to Y87.80 from Y87.34 on the back of the USD/JPY rally. Sell stops are now in place on a break down through Y87.40 and Y87.00. GBP/JPY also picked up from Y130.13 to Y130.61, but the move was dampened somewhat by a softer cable.
