JPY started near the 100-day moving average at Y102.38 and proceeded higher toward the overnight Y102.49 high. The move higher saw some buy-stops triggered and was assisted by fresh bids coming in at Y102.40. Then, rumored offers linked to a Y102.50 barrier capped the pair at a high of Y102.47 and dollar-yen then slipped back toward Y102.35. The pair made repeated attempts to get through Y102.40 through the morning as Japanese stocks traded higher but the gains ran into stubborn sellers. Some dealers also noted the base of the daily Ichimoku cloud coming in around that Y102.50 mark serving as additional resistance while further up, more offers have been noted at Y102.60/65. Dollar-yen was last at Y102.38, right where it had started the session. Buyers are noted down at the session low with more at Y102.25/20. Euro-yen meanwhile opened at Y139.20 this morning and marked an early high of Y139.36 before turning back also in line with dollar-yen. The cross was last at Y139.22.
