Euro-yen led the overnight pressure on the yen with dollar-yen able to edge up from an early Y82.47 low to Y82.70 as the cross rallied from Y107.27 to Y107.51, before it settled between Y107.40/50 ahead of the European open. Dollar-yen eased off its highs, settling between Y82.60/70 into Europe. Strong offers remain in lace between Y82.85-83.00 linked to option interest, with stops above. Support seen at Y82.30/20. For the cross, offers remain in place around Y107.50, a clear above to open a move toward Y107.90-8.00. Support Y107.10/106.95. This afternoon’s FOMC policy decision out of the US to provide next direction, especially in dollar-yen, with the BOJ policy announcement also awaited Thursday.
EasyForexNews Research Team