Asia Session Recap
The start of the trading week kicked off with high volatility early in Asia, with JPY opening up strong against the rest of the majors. After finishing the week just over the 90.00 handle, USDJPY opened significantly lower, bottoming out near the 89.20 area. EURJPY also saw a dramatic move to the downside moving to lows 150+ pips lower to around 131. However, the sell off was short lived, as the Yen seemed to give back most of its gains. USDJPY would eventually grind back over the 90.00 handle and EURJPY rallied back over 132.50, leaving traders with a chance to catch a short squeeze higher.
The market expects a busy week, with announcements expected from the RBA, FOMC , BoE, and ECB. If that weren’t enough for the currency markets to handle, the week will be concluded the Non Farm Payrolls out of the US on Friday.
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