Dollar-yen enjoyed early demand interest into Asian trading Friday, the rate pressured up from opening lows around Y82.37 to Y82.57 on Tokyo fix interest. However, this early momentum quickly faded as move ran into decent Japanese offers placed to Y82.60. Rate drifted off to Y82.50/45 before getting pressed back to the opening lows ahead of the European open. Rate was trading back at Y82.45 into Europe. Offers remain in place into Y82.60 with stronger interest noted at Y82.80/85 with stops above. Option linked offers remain in place between Y82.95/00 protecting barrier interest at the figure. Support seen at Y82.35/30 ahead of Y82.20. Euro-yen was pressed to a low of Y106.61 in NY after the euro came under general sell pressure following dovish comments from ECB Draghi and Italian political wobbles. Rate closed in NY at Y106.87, touched an early low at Y106.78 into Asia before Tokyo fix demand lifted it on to Y107.08. Rate then settled around Y107.00 through the early part of the Asian afternoon before coming under fresh pressure ahead of Europe that sees it trade down to Y106.70.
EasyForexNews Research Team