Falling global yields and mild risk off sentiment continue to boost Japanese Yen. On the other hand, Australian Dollar is leading other commodity currencies lower. But the forex markets are mixed elsewhere for now. Dollar and European majors are stuck in near term ranges against each other. Eyes will turn to US consumer inflation data today, and see if that could trigger breakouts in Dollar pairs. Technically, the pull back in AUD/JPY is turning out to be deeper than expected and threatens the near term up trend at least. Focus is on 55 day EMA (now at 82.98) and sustained break there would open the case for deeper fall back to 77.88 key structural support. Nevertheless, rebound from 55 day EMA, followed by break if 84.16 minor resistance will revive near term bullishness, and bring stronger rise through 86.24 high. We'll see how the cross reacts to development in both stocks and yields ahead. In Asia, at the time of writing, Nikkei is down -0.63%. Hong Kong HSI is down -1.18%. China Shanghai SSE is down -1.20%. Singapore Strait Times is down -0.55%. Japan 10-year JGB yield is down -0.0047 to 0.061. Overnight, DOW dropped -0.31%. S&P 500 dropped -0.35%. NASDAQ dropped -0.60%. 10-year yield dropped -0.065 to 1.432. | 