USD/JPY was last trading at Y79.91, higher on the session by 5 pips, having traded a range of Y79.80 to Y79.00. The pair spiked to the session highs mid-session, following renewed jawboning from Japanese officials. Finance Minister Azumi warned speculators about getting too long of the yen at these levels. Azumi also noted the yen rise due to speculation and officials were ready to act on excessive currency moves However, the pair was unable to break above Y79.00, with light offers seen at Y79.20/25 and above. Bids are seen at Y78.60/65 and Y78.40. Euro-yen was last at Y97.00, having traded a range of Y96.65 to Y97.23. Offers initially seen at Y97.50
EasyForexNews Research Team