Markets are quiet but the Nikkei, US futures are keeping lower
Not a good return from the lunch break by Japanese investors, as the Nikkei extends its losses to a little over 2% currently. US futures are also still keeping lower, down by 1.5%.
The softer risk mood in the equities space amid holiday-thin trading is weighing on yen pairs with USD/JPY now down to just under 108.00.
The pair is easing back under its 200-day MA (blue line) @ 108.35 with sellers also seizing back near-term control by driving price below its key hourly moving averages.
Keep below the the 200-day MA and the 108.00 level, and the bias in the pair will stay more bearish with sellers to keep downside momentum on a potential move towards 107.00.
However, just take note that most major centers in Europe will still be closed today in observance of Easter Monday so liquidity conditions will remain thin throughout.
