A subdued session in the Asia-Pacific today with some of the region still out for Boxing Day. The last Friday of Dec. also saw some important data release out of Japan this morning most of which came in below expectations. But market reactions were muted with dollar-yen barely moving at Y120.33 throughout. The pair had gotten an early lift to Y120.43 after it opened at the day’s low of Y120.10 but failed to extend gains in the face of selling by Japanese names. Dollar-yen then traded lower as Japanese stocks spent the morning in the red although losses were also contained by reported demand linked to a Y120.00 option expriy due next week. Dollar-yen last trades at Y120.21. Stops are noted downside below Y119.70, Y119.30, Y118.20 and Y117.75 and on the topside above Y120.55 and Y121.05.
