Dollar-yen closed Thursday’s session at Y82.43, after recovering off a pullback low of Y82.26 seen after rate was rejected from earlier highs at Y82.84. Rate managed to edge up to Y82.51 into a Japan holiday thinned Friday session before a US name leaned into the recovery and pressed rate down to Y82.25. Recovery to Y82.43 proved short lived as fresh sales emerged (leveraged accounts trimming long positions into the weekend) that took rate to session lows of Y82.18 where it met stronger demand interest. Rate recovered to Y82.37 into the European open and was holding firm at writing. CTA bids seen in place from below Y82.20, with fund interest noted into Y82.05/00. A US name has noted interest to buy into dips if seen under Y82.00, adding that they see little in the way of downside stops now, though some system stops are noted on break of Y81.99. Strong offers remain in place ahead of the reported barrier at Y83.00, the sell interest beginning from around Y82.85 through to the figure. Euro-yen saw lows of Y105.88 in Asia before recovering into Europe to Y106.22, shy of early highs at Y106.27.
EasyForexNews Research Team