The pair opened at Y105.26 this morning in Asia after overnight moves saw the pair trade close to the 2014 high of Y105.44 before it was capped at a high of Y105.37 in US market action. This morning in Asia, dollar-yen broke through that Y105.44 high in very early dealings, and then jumped through Y105.50, triggering stops on that move. It peaked at Y105.72 but ran into selling off Y105.75. The pair then turned back down and then retained a relatively heavier tone through the rest of the morning. Trade activity slowed toward the late morning as caution prevailed before tonight’s all-important USnon-farm payrolls data. Dollar-yen was last at Y105.34. The morning’s fresh 2014highs would see overall focus shift to levels last seen in Q3 2008 and in particular theY110.680 high. Initial support is noted at Y105.10, with stops also noted there. On top, the next major hurdle is seen at the Y106.00 mark where there’s been reported barriers and the usual stops above.
