CHF/JPY buying noted in early Tokyo trade

Some talk of decent interest to sell the Yen across the board at the Tokyo Fix, which happens in about 30 minutes. The usual scenario on big fixing days, is that the banks buy USD/JPY, EUR/JPY, CHF/JPY etc and drive the price higher into the Fix, thereby executing the customer orders at the highest possible level. Then once the demand has waned, prices slip back soon thereafter.

Keep an eye on EUR/CHF as well, it’s inching lower towards 1.2100 again.