Its just ticking over to 8am in Tokyo
USD/JPY is up half a big figure or so already
Last week’s volatility is not yet done
As I warn each and every Monday morning, liquidity is thin and will remain so until more Asian forex centres come one line (Tokyo, followed by Singapore and Hong Kong a little after). Having said this, yen crosses have been trading on wider spreads and thinner liquidity all through last Friday; while I expect some improvement today and as the week progresses, it is still going to be a time to be more wary than usual. I am net looking for yen strength to carry on, but there will be joy for both trading longs and shorts.