Japanese markets are closed again today, marking the end of Golden Week, and trade activity has seen little improvement from the past few sessions. The pair started at Y102.14 and made marginal early gains to Y102.20 but turned lower immediately after. Dealers offered up few reasons for the move other than those previously noted sellers at Y102.50, and the pair then drifted down to Y102.11. It held above that for the next few hours and then continued its decline through Y102.10 in the late morning. Dollar-yen fell to a Y102.05 low and briefly traded below Y102.00 for Y101.97 after the RBA decision before then getting scooped up by rumored decent bids below yesterday’s Y101.86 low.Dollar-yen was last at Y102.00. Initial resistance remains at Y102.37 with a close above to confirm an easing of bearish pressure and hint at a bigger bounce that targets the Y103.00-10 region. Euro-yen opened at Y141.72 this morning and spent the early hours between Y141.68 and Y141.78. It fell through that low and weakened to a Y141.64 low, and was last at Y141.61
