A quiet session for the JPY this morning with dollar-yen again struggling to make any headway through Y102.00 — the same level that capped last night’s moves — after it had opened at Y101.94 today. Dollar-yen edged up to Y101.99 again in early dealings as Japanese stocks gained but then turned back as the morning wore on. It traded a low of Y101.80 just before the Tokyo fix but recovered slightly toward the morning close in Japanese stock markets. Dollar-yen managed to reclaim Y101.89 but trade then tapered off, with dollar-yen then locked in around the Y101.88 mark through the earlyafternoon. Offers still lined up at Y102.00 with the 100-day moving average then at Y102.20 and more sellers cited at Y102.50. Stops are noted topside above Y102.10 and Y102.40 today and on the downside below Y101.70 and Y101.50.
