The forex markets are digesting recent moves in mixed Asian session today. Yen is recovering slightly but remains the worst performer for the week. BoJ is still trying hard to defend the 0.25% 10-year JGB yield cap. On the other hand, Euro and Dollar are the strongest ones so far. The greenback is trying to recover against commodity currencies and there is some near term upside prospect. Euro, on the other hand, is helped by its recovery against the Pound and Swiss Franc. Technically, some attention will be paid to S&P 500 today after yesterday's 0.71% rise. SPX should be testing 4959.31 resistance soon. The correction from 4818.62 should have completed with three waves down to 4114.65 already. Firm break of 4595.31 will solidify upside momentum for retest of 4818.62 high. Such development could give Yen some renewed pressure. In Asia, at the time of writing, Nikkei is up 0.67%. Hong Kong HSI is up 0.45%. China Shanghai SSE is down -0.43%. Singapore Strait Times is down -0.23%. Japan 10-year JGB yield is down -0.0069 at 0.253. Overnight, DOW rose 0.27%. S&P 500 rose 0.71%. NASDAQ rose 1.31%. 10-year yield dropped -0.015 to 2.477. | 