The pair started at Y103.93 this morning after it traded a high of Y104.12 last night in the US, marking yet another 2-month high. The pair however ran aground in today’s Asia-Pacific session, with few trades being executed ahead of tonight’s key US jobs data. The pair traded marginally higher off the open, to reach Y103.97 but that was the best it could do and retraced after that to Y103.84 low. It has since remained supported near Y103.90 and was last at Y103.93, unchanged from the open. Further moves above lastnight’s Y104.12 high likely to target the Jan 23 peaks at Y104.84, the Jan 10 peaks at Y105.34, and then the 2014 peaks at Y105.43-44, seen January 1-2. Euro-yen meanwhile marked a Y142.46 to Y142.64 range today as the euro was also largely ignored by the market. The cross was last at Y142.54 with stops noted below Y141.90 and above Y144.00.
