End of the week saw dollar-yen opened at Y104.24 while euro-yen opened at Y142.40, gotobi day demand lifted the rates higher to an initial high of Y104.44 & Y142.44 as offers & barrier at Y104.50 capped dollar-yen’s advance. The rates eased off to Y104.26 & Y142.20 (session low) on back of heavy offers and lower dollar index but renewed demand boosted another move higher to hit session high of Y104.48 & Y142.52 but heavy offers on the platforms and European names at Y104.47-48, defending the Y104.50 option barrier capped dollar-yen. Dollar-yen holding firm at Y104.46 before Europe steps in while euro-yen at Y142.43 which was sold off earlier as dollar index hits fresh daily high, euro sold off to fresh session low of $1.3626 last and euro-yen slides to Y142.35 last. Dollar-yen registered fresh multi-year highs after breaching above yesterday’s high of Y104.38 but euro-yen trade sideways, a break above Y142.90 is needed to establish bullish bias. BOJ ended a 2-day policy meeting and left rates unchanged as widely expected, without much impact on the exchange rates. The Nikkei 225 index snapped yesterday’s gains to fall 0.20% last.
