Yen rises broadly as the markets start the week with risk aversion in Asia. On the other hand, Canadian Dollar is trading as the weakest, leading other commodity currencies lower. European majors are mixed together with Dollar for the moment. The economic calendar is rather light today and focuses will stay on development in the risk markets. Though, attention will be turning to ECB meeting later in the week, in particular its new forward guidance. Technically, AUD/JPY and CAD/JPY has already broke out to the downside. Eyes will be on 129.60 support in EUR/JPY and 150.64 support in GBP/JPY. Break of these levels will align the developments with other Yen crosses and solidify Yen's near term strength. At the same time, USD/CAD is edging close to 1.2653 structural resistance. Break there will also solidify the case of medium term bullish reversal, which could then see USD/CAD heading back to 1.3 handle. In Asia, at the time of writing, Nikkei is down -1.40%. Hong Kong HSI is down -1.57%. China Shanghai SSE is down -0.12%. Singapore Strait Times is down -0.95%. Japan 10-year JGB yield is down -0.004 at 0.017. | 