JPY opened at Y101.98 this morning in Asia and made a brief move through Y102.00 for a high of Y102.04 while euro-yen opened at Y139.04. Dollar-yen turned back after that and went to Y101.95 but rebounded through Y102.00 again after Japanese stocks opened and after remarks by BOJ Governor Haruhiko Kuroda at a BOJ conference today. The pair revisited the Y102.04 high but failed to break higher amid Japanese exporter sales and as month-end flows went against the US dollar. Euro-yen meanwhile traded lower after the initial Y139.11 high and has seen little recovery since. Dollar-yen sank to a Y101.88 low as euro-yen also traded down to Y138.88. Dollar-yen was last at Y101.94 while the cross was at Y138.97. Any break in dollar-yen below last night’sY101.89 US low is likely to run into rumored demand around Y101.75/70 and Y101.60, while stops are noted below Y101.50 and above Y102.50.
