The pair started the week at Y101.78 in quiet Asia from Friday NY’s range of Y101.73 to Y101.94 while euro-yen opened at Y136.75 from NY’s range of Y136.66 to Y137.05. The currency pairs inched up to session high of Y101.86 & Y136.80 before slipping to session low of Y101.75 & Y136.64 and rebounds to Y101.83 & Y136.77. Fairly quiet and light volume Monday Asian session as most Southeast Asian countries closed for holidays today. With soft German Ifo and post durable goods, euro weakness weighed on euro-yen and dollar-yen, pressuring the cross to breach NY’s low of Y136.66 briefly in early trade. Reported supply in euro-yen from reserve name this morning at Y136.75capped both currency pairs. Dollar-yen hugs 21-dma at Y101.82 with reported offers at Y101.90 & Y102.00-10 ahead of 100-dma at Y102.05 & 200-dma at Y102.08 and stops are noted above Y102.10-15. The euro-yen sits at Y136.71 near s/t support at Y136.66 (NY low), bears eye a close below important support of Y136.37 (low July 24) for a retest of 2014 low at Y136.23 (Feb 4).
