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Yen On Softer Footing As E-Minis Edge Higher

JPY

USD/JPY has pulled back from its session high of Y109.15 and last trades at Y109.06, marginally above neutral levels, with both sides of the pair lagging their G10 peers as e-minis have edged higher. A move through Mar 9 high of Y109.23 would bring the 61.8% retracement of the Mar 2020 - Jan 2021 slide at Y109.56. On the downside, losses past Mar 5 low of Y107.82 would open up Mar 4 low of Y106.97.

  • EUR/JPY sits +4 pips at Y130.33 as we type, with bulls looking for a break above the 1.236 proj of the Jun - Sep - Oct 2020 price swing at Y131.22, followed by the high print of Oct 4, 2018 at Y131.58. Bears keep an eye on Mar 8 low of Y128.78, followed by Mar 2 low & key near-term support at Y128.19.
  • AUD/JPY trades +4 pips at Y84.66, as the Aussie has struggled for any topside impetus from the off. A breach of Feb 25 high of Y84.95 would reignite bullish momentum, while a fall through Mar 5 low of Y82.78 would please bears.
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