The pair started the session in narrow ranges with dollar-yen initially shuffling between Y102.26 and Y102.32. Yen pairs got a lift after Japanese stocks opened higher, and dollar-yen moved up to a morning high of Y102.41 while euro-yen also gained to a Y141.51 high after opening at Y141.39 earlier. The dollar stumbled broadly after that following comments from the Fed’s Plosser and dollar-yen dropped back to Y102.28 before then recovering again toward Y102.40 amid some mention of demand from around Y102.10/00. The pair however continued to be capped by talk of large sell interest from Y102.50 and it then eased again to Y102.29 last, while euro-yen was also back down near the morning low, last at Y141.30. The cross continues to remain defined by a Y140.44-141.96 range with a break lower favored while the Y141.96-24 regioncaps. A close above this region is needed to shift focus from further retests of the Y140.44 level and back to a retest of the Y143.78 Mar 7 high.
