The pair opened at Y118.46 this morning while euro-yen opened at Y133.2here was an early move higher in yen crosses, lifting euro-yen up from Y133.04 to Y133.45. Dollar-yen followed suit as Japanese accounts actively buying up yen crosses. Dollar-yen topped out at Y118.66 as the pair ran into sellers clustered between Y118.80 and Y119.00. Reported comments from Japan’s economy minister added weight on the retreating dollar-yen and the pair then fell to a y118.13 low around mid-morning. Euro-yen also dropped back and traded a Y132.77 low before recovering a bit. Toward the early afternoon, dollar-yen was at Y118.35 while euro-yen was at Y133.05. Support for the cross is seen at Y132.32 marking the 38.2% fibo retracement of the Y130.11 to Y133.69 rise.
