USD/JPY opened st Y80.10 in Asia Weds, before slowing ticking higher to touch an initial intraday high at Y80.26. Light offers were initially seen at Y80.30 and the pair slipped back towards the lows. With many Japanese houses maintaining skeleton staffs due to the Golden Week holidays, volumes were light. Late trade saw the pair bounce and take out offers around Y80.30, triggering some small stops to a high at Y80.35. holding around those levels into the Europe open. Japanese exporter offers are seen up around Y80.45/50, traders say. Bids again noted at Y80.00, with only small intraday stops around those levels. EUR/USD was last trading at Y106.28, spiking higher late in the session as USD/JPY rallied. AUD/JPY also rallied late in the session helped by fast money buying, touching Y80.08, just off the best level.
EasyForexNews Research Team