The pair started the week at Y102.53 in Asia having traded a NY range of Y102.34-Y103.03, early demand pushed the rate to Y102.63 before slipping to session low of Y102.48 but met further demand in aussie-yen & euro-yen post better Australian retail sales and the pair surged to fresh session high of Y102.69. Euro-yen opened at Y137.71 from a US session of Y137.57-Y138.03, with early buying interest from Japanese names the rate got lifted to initial high of Y137.78 before reversing to session low of Y137.63,stronger dollar-yen dragged the cross to hit fresh session high of Y137.81 before correction to Y137.75, but renewed buying interest paid the cross to fresh session high of Y137.83. The pairs holding firm at Y102.67 & Y137.80 last. Euro-yen continued to pullback higher from recent low of Y136.37 (July 24) to NY high of Y138.03 but corrected lower post NFP to hit a NY low of Y137.57, hovering above the 21-dma at Y137.52. Dollar-yen corrected lower from last week’s high of Y103.10 (July 30) to NY low of Y102.34 on disappointing NFP, strong offers reported at Y103.15 with large stops above Y103.20 while demand on approach of Y102.25-20 noted.
