The JPY started the session with moderate gains, pushing USD/JPY through the US session low of Y119.38 and down to Y119.26 after it opened at Y119.65. A similar start seen also for euro-yen which opened at Y142.76 and then fell to Y142.28, which marked the low for the session for the cross. Both pairs recovered a bit after that, with dollar-yen climbing back to Y119.51 while euro-yen went back up to Y142.68. Japanese stocks traded lower this morning and weighed on dollar-yen again, with the pair then falling through reported demand at Y119.20 and on to a Y119.16 low about an hour after the market opened. The pair made another small recovery again to Y119.45 as euro-yen also bounced off Y142.31 though gains were generally limited. Another leg lower was then seen in the afternoon with dollar-yen then marking another fresh low of Y119.09 while the cross slid to Y142.27. Dollar-yen last trades at Y119.20 while euro-yen was at Y142.42.
