A quiet morning for the JPY so far this Monday, following the dollar’s rise to a Y109.90 high on Friday in the US, driven by the strong US non-farm payrolls report. Dollar-yen opened off that high this morning, at Y109.72 and traded up again for another look at the Friday peaks. The pair got up to Y109.87 but the failure to push through for further highsopened the pair up to profit-taking interest and it slipped soon after Japanese stock markets began trading. Dollar-yen fell to Y109.65 in the initial retreat and then slipped further to Y109.61 where it ran into minor demand off the low. It paused there and edged back up to Y109.74 before succumbing again to further dollar unwinds. Dollar-yen weakened to Y109.55 in the late morning and has since remained soft near that low, to lats trade at Y109.60. Further losses are expected to see the pair move to the pullback low of Y109.30 also traded on Friday before the Y108.88 US session low.
