Asia Session Recap

Forex traders were treated to an Asia session of exceptional volatility. With no top tier data to act as a catalyst for the market, momentum traders ruled the day. After seeing a bit of JPY strength on the onset of the session, the currency quickly gave way to sellers. USDJPY shot from session lows around 97.30 to test the 98.50 area. EURJPY saw similar price action, after hitting lows around 128.30, the pair rocketed 200+ pips back through the 130 handle.

Looking ahead, Asia traders will be focused on key Tankan data expected out of Japan in tomorrow's session. Also on tap will be the ever dicey Retail Sales report out of Australia.

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