As usual in Asia, a lot will depend on the movements and positioning in the crosses. EUR/JPY and AUD/JPY both bounced back strongly on Friday night despite the heavy risk aversion and this is a bullish sign imho. USD/JPY broke below 82.00 but bounced back also and looks set to test recent highs at 82.80. Perhaps Japan might use the new capital inflow initiatives to try and ease upside pressure on the Yen?
Initial support/resistance is at 81.70/82.80.
