USD/JPY Tests Sub 153.00

Yen strength continues to dominate in the early parts of Friday Asia Pac dealing. The pair was last just above session lows (152.91) tracking near 153.00 at the time of writing. This takes us back to mid April levels in the pair.

• A reminder that Japan onshore markets are closed today, although that didn't prevent likely intervention from happening during Monday's session. Wednesday's suspected intervention also occurred during the NY/Asia Pac cross-over, so another light liquidity period.
• Broader USD sentiment is softer, with the majors all modestly higher against the USD, although the yen at +0.4% firmer, is the clear standout. US equity futures are higher, post Apple's results, while Tsy futures sit a touch weaker in the first part of trade.
• In terms of levels, the pair has traded through support at the 20-day EMA - at 154.58 - exposing the 50-day EMA at 152.39, a key support. Note that trendline support drawn from the Dec 28 low, lies at 151.05.