In the Tokyo market as of 8:00, USD/JPY was little changed, trading around ¥158. With the US employment report due, there were no catalysts for a major one-way move, and trading remained within an expected range.
As of 8:00, USD/JPY was ¥158.02, slightly weaker for the dollar than the New York close of ¥158.09. The upside was heavy early on, but the pair has so far held above ¥158. EUR/JPY was ¥177.68 as of 8:00, about 7 sen weaker for the euro than the NY close of ¥177.75, with the move remaining limited. EUR/USD was little changed at $1.1244, trading at nearly the same level as the NY close.
Movements remained limited around the NY close, and a clear direction is unlikely to emerge ahead of the US employment report. Yesterday, CME 225 futures settled at ¥68,520, down ¥490 from the Osaka Exchange.
The reference ranges through today are ¥158.02-¥158.18 for USD/JPY, 1.1238-1.1247 for EUR/USD, and ¥177.64-¥177.86 for EUR/JPY. Future movements could depend on the US employment report, although volatile trading amid a lack of catalysts continues.