The pair opened at Y101.90 this morning while euro-yen started at Y141.70. Early moves were muted with dollar-yen easing to Y101.84. A stronger open in Japanese stocks sparked mild upticks although offers just below Y102.00 kept dollar-yen on a tight leash. Demand from Japanese names intensified ahead of the Tokyo fix, with the bulk of the buy orders coming in at Y101.40, dealers said. That carried dollar-yen up to Y101.98 high while euro-yen topped out at Y. Yen pairs consolidated after the fix, with dollar-yen slipping a back to a new session low of Y101.79. Demand from the low kept the pair propped up there, and it spent the rest of the morning chopping around between Y101.80 and Y101.90. Further bids and stops are noted below Y101.40, at Y101.30/20 while sellers remain in place near Y102.00. Layers of resistance remain in the Y102.18-37 region with bulls needing a close above to shift focus away from the Y100.75-101.32 region and back to the Y102.88-103.10 region
