Opened in Asia at Y78.06 easing to Y78.02 before some early fixing demand was noted ahead of tomorrow’s Japanese holiday. The USD failed however to break above Y78.14 in very subdued trading and later eased back towards the earlier low. Offers are set up towards Y78.30 and Y78.60 with stops above each level. Bids remain from Y78.00 down to Y77.70 but neither side really attracting any interest. EUR/JPY drifted through $101.73/90 with moves dictated by the euro-dollar. Bids are noted down to Y101.45 with stops below and again through Y101 and Y100.75. Offers are up at Y102.00 with larger towards Y102.50. GBP/JPY eased from Y122.42 to Y122.22, and AUD/JPY slipped from Y89.89 to Y78.56 before recovering to Y78.77. Comments from BOJ’s Shirakawa failed to have any significant impact in driving some life into the yen sector, as the market winds down for Christmas and flows diminish.
EasyForexNews Research Team