Yen pairs see light pressure as equities slip

USD/JPY touches a low of 111.19 on the day

And it's not just the main pair, yen pairs across the board are also slipping with EUR/JPY, GBP/JPY, AUD/JPY, and CAD/JPY all touching session lows on the day as well.

This comes as Chinese stocks extend losses on the day with the Shanghai Composite now down 1.3% at session lows - resulting in the Nikkei closing the day a little lower and the Hang Seng index paring earlier gains to be in negative territory currently.

For USD/JPY, looking at the chart above, sellers are back in control as the pair falls below the 200-hour MA (blue line) in trading today after having failed to hold a break above the 100-hour MA (red line) in two previous attempts overnight and in Asian trading.

The next support level for the pair is the Friday low @ 111.10 followed by bids and yesterday's low at the figure level (111.00).