 Yen is trading broadly lower in Asian session today. But commodity currencies are also soft on mild risk-off sentiment. On the other hand, Euro and Dollar are the stronger ones, while Sterling and Swiss Franc follow. UK data will be the main focus in European session while US calendar is empty. Nevertheless, more volatility is guaranteed ahead with three major central banks featured, including RBNZ, BoC and ECB, plus lots of important data. Technically, immediate focus is on 125.09 resistance in USD/JPY. Firm break there will resume larger up trend to 125.85 long term resistance (2015 high). The question is whether that would help take EUR/JPY through 137.50 resistance, or push EUR/USD through 1.0805 support. In Asia, at the time of writing, Nikkei is down -0.77%. Hong Kong HSI is down -2.65%. China Shanghai SSE is down -1.89%. Singapore Strait Times is down -0.42%. Japan 10-year JGB yield is up 0.0122 at 0.243. |
