Has ebbed to Y100.15 area now as yen crosses ease back from their
strongest levels of the day, the retreat matching some back and filling
in US stocks where Dow is up 250 vs 300 earlier. Dollar highs were
notched at Y100.55 in what traders are describing as a "relief" rally
in stocks, risk and carry type trades. Stops still eyed at Y100.80. Y100.50/85 zone (Oct 22 high and 50% retracement of Y110.65
decline) is seen as the strong resistance, where a fade is expected.
Closest
support lies at Monday session low at Y98.20. Stronger level remains at
Y96.10 (50% of the most resent rebound).