The pair got up to Y102.41 in European trade overnight and extended that to Y102.61 during the US hours before starting in the early pre-Asian hours at Y102.35. The pair traded an early low of Y102.24 as Japanese stocks weakened at the start but recovered after that as yen crosses got a lift from an improved risk environment. Euro-yen opened at Y140.09 and also retreated earlier to Y139.86. Euro-yen’s recovery to Y140.22 high spurred dollar-yen higher and the pair went up through the opening level to trade a Y102.42 high. Dollar-yen continued to hold near that high in the early afternoon, and was last at Y102.40 while euro-=yen was also held up at Y140.14. Dollar-yen could seeanother attempt at Y102.60 later in the global session depending on how Japanese stocks close. A break above that is likely to run into sellers at Y102.65/70 region, with more selling interest cited toward Y103.00. On the downside, support is seen at Y102.10, with stops then seen on a break below Y102.00.
