Yen is under some broad based pressure in Asia session despite some mild risk aversion sentiment. BoJ is clear to lag behind other major central bank in raising interest rates, due to the still underperforming inflation. Rally in global treasury yields is also weighing on the Japanese currency. Euro is maintaining this week's recovery, but is apparently struggling to extend rebound as Russia invasion of Ukraine drags on. Dollar is firm and the upside breakout against Yen is a positive sign. Technically, USD/JPY finally breaks through 116.34 resistance to resume medium term up trend. Next target is long term resistance level at 118.65. At the same time, AUD/JPY is also marching towards 86.24 high. Firm break there will resume medium term up trend too and would add to the case of more broad based Yen selloff. Though, break of 83.79 support will suggest rejection by 86.24 and bring near term reversal. In Asia, Nikkei closed down -2.05%. Hong Kong HSI is down -1.69%. China Shanghai SSE is down -0.22%. Singapore Strait Times is up 0.22%. Japan 10-year JGB yield is down -0.0078. Overnight, DOW dropped -0.34%. S&P 500 dropped -0.43%. NASDAQ dropped -0.95%. 10-year yield rose 0.063 to 2.011 (but it's retreating in Asia). | 