Most of Asia is ambling back to its trading desk this morning but Japan remains at skeleton staffing levels due to the Golden Week holidays. USD/JPY finally found solid support around 79.60 overnight but not before the stops below 79.70 had been tripped. Word this morning is that buy orders are becoming more prevalent on the downside with 80.00 now likely to provide support with a test above 80.50 on the cards. EUR/USD remains static whilst AUD/USD is trying to crawl higher after standing bids at 1.0300 stymied the move lower overnight.
Timid start to Wednesday proceedings
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