The yen trails on a slightly more positive risk appetite
There is little change for the most part and the technical picture since the end of last week remains largely intact as we get the new week underway.
The dollar is mixed across the board but generally is seeing minor movements on the day so far. The yen is the biggest laggard as Japanese markets rebound a little, with Treasury yields also higher on the session. 10-year yields are up 2 bps to 0.741%.
European equities are also higher but are trading off earlier highs, so the bit part exhaustion will be something to watch out for in the US session ahead.
But for USD/JPY, price action is still sitting under 106.00 and more importantly, sellers are keeping up a defense of the 200-hour moving average currently:
That is a key near-term level to watch before getting to the 100-hour MA (red line) @ 106.09. Keep below those two levels and the near-term bias stays more bearish.
Elsewhere, the euro is looking more choppy with EUR/USD bouncing around either side of the 1.1900 handle. Meanwhile, the pound is dogged by reports of the UK Treasury looking to increase taxes and some Brexit pessimism.
The kiwi is also a touch lower as the RBNZ says that governor Orr will be speaking on Wednesday, likely to try and jawbone the currency once again.