Tokyo's main index continues to rest below its 100-day moving average
The Nikkei ends the session lower on the day as Asian stocks pull back with anticipation still on the Trump-Xi meeting to come later this week. Rising geopolitical tensions between the US and Iran are also contributing to the softer risk mood in markets but so far investors are not entirely convinced by the buildup to the crucial meetup this weekend.
Call it profit taking or cautious sentiment but what is clear is that markets are in a bit of a risk-off mood as we begin the European morning. USD/JPY sits lower as a result with the pair having touched a low of 106.78 earlier before sitting near 107.00 now.