EUR/JPY was last at Y100.45, having been lifted off early lows by Japanese trust bank and securities firm buying. Offers are seen at Y100.75 through to Y101.00. USD/JPY was higher, last at Y79.75, in line with EUR/JPY. Also noted earlier in the session was short-covering after late NYC sell-off. Offers still noted just below Y80.00. Traders said the yen rallied in late NYC trade on fears of safe-haven buying. However, a sharp reversal was seen after no follow-though. Offers are seen from Y90.00 through to Y80.40/50, although stops also noted mixed in around Y80.20/25
EasyForexNews Research Team