Opened in early Europe at Y76.65 and Y100.15 Opened in Asia at Y76.60 just off the highs seen in NY of Y76.73 following Friday’s strong NFP release. After an initial dip to Y76.50
this morning on EUR/JPY sales, the pair then picked up again through Friday’s high, taking out stops to Y76.80 before hitting profit taking from short term players. EUR/JPY recovered from a fall to Y100.18 from Y100.57 settling around Y100.50. USD/JPY endured a very quiet European session, trading a tight Y76.56-70 range. Rate headed higher from the offset posting Y76.70, before easing on profit take sales and trade mid-range. Strength in the yen crosses pressed dollar to Y76.56 and will be looking for a clear break ahead of NY. Middle-Eastern demand lifted euro-yen on the open to Y100.36, before paring early gains to Y100.20. The cross tracked EUR/USD slippage through Y100 to Y99.87, before recovering to Y100.05. Bounces remained shallow and the pair eased once again to fresh intraday lows Y99.85 with strength seen in yen crosses, later climbing to Y99.95.
EasyForexNews Research Team