Closed in NY Friday at Y78.43, the rate having bounced off lows of Y78.28 around the London fixings. Dollar-yen opened flat in Asia before easing lower on cross yen supply to Y78.33, the pair encountered usual Gotobi demand into the Tokyo fix with 2 banks seen buying in good size, traders say. Dollar recovered to opening levels, before a fresh wave of demand from Japanese names lifted to Y78.62. Resistance seen on the topside at Y78.68/76 from the Ichimoku cloud base/100 dma, a break opens offers into Y78.80. Euro-yen closed in NY Friday at Y101.58 having recovered off Y101.31 in tandem with euro-dollar. The cross initially lifted to Y101.62 in early Asia, before sharp cross supply pressed through support to print Y101.04. Demand ahead of the Tokyo fix recovered to Y101.30, extending to Y101.45 where the rate settled in a tight range.
EasyForexNews Research Team