The pair opened at Y102.33 this morning, just about where it had ended on Friday, at Y102.36. Dollar-yen crept higher in early dealings, pshing through Y102.40 and then peaking at Y102.46 after Japanese stocks opened in positive territory. But that marked the extent of dollar-yen’s gains this morning with the pair then heading lower through the rest of the morning. It slipped back below Y102.30 as a lack of any major data releases today led to minor unwinding of positions by Japanese banks. The pair continued heading lower before marking a low of Y102.25 in the late morning. A mild rebound followed with the pair last at Y102.32. It is is likely to struggle to make further gainsbeyond last Friday’s Y102.72 US session high, with rumored offers scattered from Y102.80 to Y103.00. Stops are noted below Y101.90 and Y101.50 and topside aboveY103.10
