Asian markets are trading in strong risk-on mode today, with particular strength seen in Hong Kong. DOW future is also currently up 150 pts, as markets look forward to US Treasury nominee Janet Yellen's confirmation hearing. Yen is back under heavy selling pressure, followed by Dollar and Swiss Franc. Australian Dollar is leading commodity currencies higher. Though, gold, oil and bitcoin are range bound. Technically, the focuses today will now be on whether Yen would break recent support levels with today's selloff. Some closer levels to watch include 142.23 resistance in GBP/JPY and 80.91 resistance in AUD/JPY. USD/JPY is also a pair to watch. Firm break of 104.39 resistance would resume rebound from 102.58 and be a strong sign of bullish reversal. That could prompt steep rally in other Yen pairs. In Asia, currently, Nikkei is up 1.44%. Hong Kong HSI is up 3.06%. China Shanghai SSE is flat. Singapore Strait Times is up 0.49%. Japan 10-year JGB yield is down -0.0030 at 0.046. | 