Yen is regaining strength in Asian session today and sentiment turned risk-off again. In particular, selloff is particularly apparent in cryptocurrencies. Swiss Franc, Euro and Dollar are all ticking up slightly. On the other commodity currencies are under some pressure, with Aussie leading the way down. For the week, Yen is currently the best performer, followed by Canadian Dollar. Kiwi is the worst, followed by Euro. Technically, GBP/JPY's break of 154.86 support now suggests that rise from 148.94 has completed at 157.74, ahead of 158.19 resistance. Deeper decline is now in favor back to 152.60 resistance turned support and possibly below. One focus is now on when USD/JPY would break through 113.47 support to resume the decline from 116.34, to solidify near term bullishness in Yen. In Asia, Nikkei closed down -0.84%. Hong Kong HSI is down -0.67%. China Shanghai SSE is down -0.80%. Singapore Strait Times is down -0.14%. Japan 10-year JGB yield is down -0.0088 at -0.136. Overnight, DOW dropped -0.89%. S&P 500 dropped -1.10%. NASDAQ dropped -1.30%. 10-year yield rose 0.006 to 1.833. |
