Think charts summarize everything Has more data, are faster to look at and derive from. Takes some more time and effort to post, but it worth the info.
It looks like Asian session is bringing the JPY and CHF buying we had been talking for over a week now. This almost directly translates to AUD and NZD sell off. CAD sell off which started yesterday also looks like gaining momentum. USD also could open a new leg down against majors and bringing EUR and GBP pairs lower.
To update around EU session. Today should bring volatility.
The pair acted as a perfect responder to the JPY gain. AUD sell off pushed EUR/AUD around 200 pips higher during the Asian session. More sideways and up action pending.
Can I ask you (this is for my own common sense): Is the Asian session always bringing more of JPY buying?
Ignored
From my experience and perspective, No. It depends on news/expectations/etc.
My view for interpreting these moves is that, September - November area would be mostly sideways, then lower actions for most JPY crosses. I expect the financial markets to deteriorate further moving into late Fall/Winter and going forward. In deteriorating market conditions, JPY and similar low yielding currencies strengthen, a sign of risk aversion.
Regarding, specifically USD/JPY, move above 110 could open way for some more gains, towards 111/112 region, but I don't think that these levels are sustainable unless there is a substantial relief in financial market conditions; involving banks, and liquidity.
Majors & Exotics [EUR / GBP / JPY / CAD / AUD]
Has more data, are faster to look at and derive from. Takes some more time and effort to post, but it worth the info.