The pair on Friday briefly broke above the daily Ichimoku cloud top at Y101.16 in the US, supported by the payrolls data reading, but eased in late trade to close near Y101.14 while euro-yen also ended near that day’s high at Y129.82. Dollar-yen started in Asia with a jump through Friday’s US high and initially rose to a Y101.54 high, aided by a positive opening in Japanese stocks as well as demand for a rumoured toushin auction today. Dollar-yen however ran into thick selling interest near the highs, as the domestic stock markets began to ease, while the toushin auction outcome disappointed many in the market, according to dealers. The cross also gained early to Y130.19 before slipping to a Y129.64 low. The pair traded back to lows near Y101.08 in mid-morning before then regaining some ground to Y101.30 in the early afternoon, courtesy of modest demand spotted from Y101.00, while the cross was last at Y129.83, just about where it had closed on Friday. Ichimoku analysts are seen setting sights on the May high of Y103.74 in dollar-yen.
