USD/JPY and JPY crosses did little in Asia today following the whippy moves seen yesterday. USD weakness, a prominent theme yesterday, looks to have faded and the unit maintained a more bid tone. This served to keep USD/JPY stable just below 122.00 for the most part and some of the JPY crosses better offered. USD/JPY traded up from a low of 121.74 to 122.01 early.
It later traded for the most part between 121.90-00. Orders look to be returning and helping to anchor down this market. Offers topside remain to 122.40. Stops are seen above but more offers are noted at 122.50-60. More stops are seen above 122.60. Standing bids are seen below at 121.55-60 with some stops below. More bids are seen trailing down from 121.50 to 121.00 and lower.
EUR/JPY traded a relatively tight 168.12-44 range. It came down from its highs early on the back of EUR/USD sogginess. It bounced later, spending the rest of the session between 168.20-30. GBP/JPY consolidated recent gains above 250, between 250.15-40. AUD/JPY consolidated in a 106.85-107.05 range. NZD/JPY traded between 96.40-80, weighed down by Japan sales on bond redemptions.
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