USD/JPY was little changed in the Tokyo foreign exchange market on the 5th, at ¥158.37 as of 8:00. It was about ¥0.06 lower than the previous day's NY market close of ¥158.43, and traded around ¥158.40.
As of 8:00, USD/JPY was trading at ¥158.37, below the previous day's NY close of ¥158.43, with attention focused on whether the trend of rising stock prices and declining long-term interest rates would also affect the Tokyo market. The effects of yen selling driven by higher stock prices and dollar selling driven by lower US interest rates were both being assessed as factors determining the direction of USD/JPY. Trends in the domestic market, including Toshiba, and the opening of stock trading were also cited as factors.
EUR/JPY was range-bound at ¥177.83, while EUR/USD showed little movement at $1.1229, compared with the New York market close of $1.1228. As of 8:00, the pair was centered around the ¥177.80 level, and its direction was likely to depend on the entry of domestic investors and the performance of Japanese stocks.
As reference ranges through today, USD/JPY was indicated at ¥158.35-¥158.44, EUR/USD at $1.1227-$1.1232, and EUR/JPY at ¥177.73-¥177.92. The overall market direction could move again depending on trends in equities and long-term interest rates.