Sitting around Y77.80 as the stalemate continues in the pair. exporter offers are lined up above at Y78.00/10, with bids down at Y77.50/60. Talk of any further intervention has currently subsided after comments from the US Treasury that the US didn’t support recent BOJ/MOF intervention with the market more in a “sell any rally” mode again. EUR/JPY also weighed down but remaining in a tight range currently around Y101.60 with some interim support seen at Y101.45/50 ahead of option interest at Y101.00, and very large interest below at Y100.50 and Y100.00. Offers are seen above at Y101.95/00.
EasyForexNews Research Team