Opened in Asia at Y82.46 and continued on from NY with slippage this morning to Y82.12 following scant demand in the Tokyo fixing. Importer bids are currently sitting ahead of Y82.00 where stops are placed on a break. EUR/JPY remains on a heavy tone in somewhat thin trading ahead of the long weekend, easing from Y108.41 to Y108.02. USD/JPY opened flat with trade confined in a tight range, before sliding on cross-yen sales to Y82.10. Rate made an attempted recovery and bounced to Y82.25, before a second wave of selling flushed stops in GBP/JPY/EUR/JPY and pressed to Y81.90 session lows. The pair nudged higher to Y81.95 but retains a heavy tone. EUR/JPY slipped on the open and tracked EUR/USD supply to Y108.00. The pair initially bounced to Y108.20, before UK clearer/cross yen sales added weight and pressed to Y107.60. Strong supply continued and large sales in EUR/CHF through the SNB Chf1.2000 floor, flushed large stops to print Y107.04 session lows. Market volumes remain thin ahead of NY.
EasyForexNews Research Team