It’s been a dull day for yen pairs this morning, especially ahead of tomorrow’s BOJ meeting and policy decision. Dollar-yen opened a touch stronger from its US close on Friday at Y101.39 while euro-yen started at Y137.92. Early dealings were muted with dollar-yen easing after the higher opening, and touching lows near Y101.33 as euro-yen also slipped back to Y137.86. Dollar-yen got a lift back to the morning high of Y101.41 as Japanese stock markets opened higher but then found itself locked in a Y101.35 to Y101.40 through much of the morning. Euro-yen meanwhile held at Y137.87/92 after asession low of Y137.82, and was last at Y137.88 with dollar-yen at Y101.36. Initial resistance remains at the Y101.39 level with stops noted above Y101.45, Y102.00 & Y102.40. On the downside stops are also seen below Y101.00 & Y100.75.
