Closed in NY at Y78.25, having eased off earlier Y78.53 highs. USD/JPY slipped in early Asia as equities opened sharply lower, macro account supply added weight and the pair printed Y78.07. US name demand cushioned the move around the Tokyo fix and recovered to Y78.20 where the pair continued in consolidation mode. Support seen at Y78.00 and Y77.90 with stops through Y77.70. Traders still seem unprepared to test the will of Japanese authroities below the Y77.80 level. Exporters seen capping moves on the topside through Y78.50/60, ahead of Y78.80. EUR/JPY closed in NY at Y95.30 off post Draghi press conference lows Y94.92. The cross largely tracked EUR/USD in Asian trade, opening heavy to Y95.03 around the fix before bouncing to Y95.20. The pair extended gains to Y95.30 on Asian sovereign demand with focus on today’s US employment report. Support seen at Y95.00, ahead of Y94.90, with offers reported at Y95.60, stronger behind at Y96.00.
EasyForexNews Research Team