The forex markets trade in tight range in Asian session today. New Zealand Dollar got little support from the RBNZ 50bps rate hike. It's actually trading as the weakest one for the day at the time of writing. As for the week, Swiss Franc is currently the strongest, with help from buying against Euro. Dollar is following as next strongest and then Aussie. On the other hand, Yen is the worst performing as it's recovery remains very weak. Canadian Dollar is also soft, awaiting BoC rate decision. Technically, USD/JPY's retreat is rather shallow so far. Another test on 125.85 long term resistance could be seen today. Clearing of this resistance could prompt accelerated decline in Yen. In that case, EUR/JPY and GBP/JPY could be pushed through 137.50 and 164.61 resistance respectively, even though European majors are soft. In Asia, at the time of writing, Nikkei is up 1.89%. Hong Kong HSI is up 0.16% China Shanghai SSE is down -0.44%. Singapore Strait Times is up 0.64%. Japan 10-year JGB yield is down -0.0011 at 0.243. Overnight, DOW dropped -0.26%. S&P 500 dropped -0.34%. NASDAQ dropped -0.30%. 10-year yield dropped 0.055 to 2.725. | 