Opened at Y78.90/99.59 after Y78.85/11 and Y99.19/67 overnight ranges, USD/JPY found a base at Y78.85 ahead of the US session and rested on that level in early dealings before a better tone of euro spilled over into EUR/JPY as risk-appetites improved against a backdrop of firmer stocks. Dollar regained a footing over Y79.00 by mid-morning as EUR/JPY pressed to Y100.00 before stalling, the cross then punching through that level as stops were flushed and as euro enjoyed broader gains after the option cut. EUR/JPY marched to Y100.424 while dollar stalled at Y79.08 but both deflated from there ahead of midday, dollar backtracking to Y78.87 as EUR/JPY dipped to Y100.15. Dollar held in that low area before rallying into mid-afternoon, regaining Y79.04 late while EUR/JPY minted a marginal fresh high at Y100.482 before ending near Y100.30.
EasyForexNews Research Team