The pair closed a volatile, post NFP trading session at Y97.56 after rate had seen an initial reaction move higher on release from Y95.90 to Y96.40 but the early react met strong sell interest which punched the rate down to Y94.97, as move caught market long which provided the weight to take out barrier interest at Y95.00. Once done rate bounced back to Y97.78 before settling around Y97.50 into the close. Rate picked up early demand into a holiday thinned Asian session, a US fund a noted buyer as stops through Y98.00 were triggered with the demand edging the rate to an eventual high of Y98.43. Japanese selling emerged post fix which pressed rate back to Y97.71 but buyers emerged into the dip and edged rate back to Y98.30 ahead of Europe. Offers reported into Y98.50, more Y99.00/20 and Y99.40/50. Euro-yen tracked dollar-yen moves, initially dipped to Y128.59 before rallying back to Y129.99. Dipped to Y129.20 post fix before recovering to Y129.80 into Europe.
