Yen is trading generally firm today as risk sentiment in Asia is decoupling from that of the US. Nikkei is so far rather resiliently holding above 30k handle, despite slight retreat. But Hong Kong HSI is having another day of heavy selling, breaking to a new low for the year. The fact that Swiss Franc is not following suggests it's more of a problem of Asia. Meanwhile, Aussie is currently the worst performing after poor job data. Kiwi is only getting very mild support from GDP. Dollar and Euro are mixed. Technically, 109.10 support in USD/JPY remains a major focus, and firm break there will likely resume whole fall from 111.65 through 108.71 support. That could trigger further selloff in Yen crosses elsewhere. For example, CAD/JPY is maintaining near term bearishness after rejection by 55 day EMA. There might be downside re-acceleration ahead to 84.65 support and below, should USD/JPY also take off. In Asia, at the time of writing, Nikkei is down -0.48%. Hong Kong HSI is down -1.97%. China Shanghai SSE is down -0.68%. Singapore Strait Times is up 0.26%. Japan 10-year JGB yield is up 0.0073 at 0.043. Overnight, DOW rose 0.68%. S&P 500 rose 0.85%. NASDAQ rose 0.82%. 10-year yield rose 0.027 to 1.304. |