Japan's benchmark 10-year JGB yield is pulled above BoJ's cap of 0.25% in Asian session today. That triggered intervention by BoJ to defend the ceiling. At the same time, USD/JPY breached 129 handle but quickly retreated, on talks that BoJ could also intervene at around 130. But judging from overall price actions, the pull back in USD/JPY is probably more due to loss of momentum in Dollar. The greenback is so far trading as the weakest one for today, followed by Swiss Franc and then Euro. Australian Dollar is leading New Zealand Dollar higher, but Canadian is weak. Sterling is mixed for now. Technically, EUR/USD, GBP/USD and AUD/USD are all losing downside momentum as seen in 4 hours MACD. It's early to call for a near term reversal. But attention will be on 1.0922 minor resistance in EUR/USD, 1.3165 minor resistance in GBP/USD, and 0.7492 minor resistance in AUD/USD. Break of these levels could prompt more sustainable selling in the greenback. In Asia, at the time of writing, Nikkei is up 0.91%. Hong Kong HSI is up 0.82%. China Shanghai SSE is down -0.21%. Singapore Strait Times is up 0.70%. Japan 10-year JGB yield is up 0.0069 at 0.255. Overnight, DOW rose 1.45%. S&P 500 rose 1.61%. NASDAQ rose 2.15%. 10-year yield rose 0.051 to 2.913. | 