Yen's strong rally continues in Asian session today, with help from risk-off sentiment as well as extended decline in US benchmark yields. Stocks are trading lower while investors are cautiously waiting for any concrete action by China over US House Speaker Nancy Pelosi's visit to Taiwan. Dollar and Euro are also mildly firmer with Swiss Franc. On the other hand, Australian Dollar is leading other commodities Lower. RBA's expected rate hike and a slightly more cautious statement provides little support to the Aussie. Technically, EUR/USD finally breaks out of range to resume the rebound from 0.9951, even though momentum is unconvincing. Next focus is 1.0348 support turned resistance. Firm break there will add to the case of a larger scale rally, even that could still be a corrective move. Meanwhile, Gold is also extending the rise from 1680.83, with break of channel resistance. Firm break of 1786.65 will solidify the case of near term bullish reversal. Both EUR/USD's and Gold's next move might help each other. In Asia, at the time of writing, Nikkei is down -1.43%. Hong Kong HSI is down -2.71%. China Shanghai SSE is down -2.86%. Singapore Strait Times is down -0.16%. 10-year JGB yield is down -0.0131. Overnight, DOW dropped -0.14%. S&P 500 dropped -0.28%. NASDAQ dropped -0.18%. 10-year yield dropped -0.036 to 2.606 (and it's down further at around 2.55 in Asia). | 