In days gone by the market used to fly around after the Tankan but nowadays no Japanese data seems capable of moving the JPY. USD/JPY has been averaging session ranges of less than 20 pips; general USD-bullish sentiment is being counteracted by Japanese corporate offers on almost every rally as well as bearish sentiment on the JPY crosses.
If we are to see any big JPY moves in Asia, they will likely be triggered by EUR/JPY which is inexorably plotting its way towards a test of the big optionality level at 100.00.
EUR/USD remains under heavy pressure and the next target is another big barrier at 1.2900. AUD/USD is similarly bearish, it’s next downside target is Sovereign and corporate bids at .9810/25.
Good luck today.
