The pair started the session at Y102,45 after another lackluster US session, which saw the pair trapped in a Y102.41-61 range, ignoring the overnight rise in both US stocks and the Nikkei futures (+1.5%), before it ended around Y102.47 in NY trade. Ahead of the Asian start, dollar-yen has largely held a narrow Y102.41/50 range, appearing to be in wait-and-see mode, with Japanese stocks likely to be a potential breakout trigger or Japanese data releases due later in the week. Dollar-yen was carried up to Y102.58 minutes after the Nikkei 225 opened higher but the move ran aground after euro-yenstumbled into selling pressure near Y141.00 after the cross had opened at Y140.70. Sharp falls in the Chinese yuan then sparked a wave of risk aversion, which then pulled euro-yen down to a Y140.64 low and dollar-yen followed suit with a drop back to Y102.41. Both pairs recovered some ground later in the session with dollar-yen last at Y102.52 while the cross was at Y140.84. For now, dollar-yen is seen needing a break above rumored offers at Y102.60/70 and Y102.80/90 to encourage a further spurt higher
