The Japanese Yen crosses have been range bound for the past few trading days and the latest wave of weakness came from the sharp selling of Asian equities overnight.
China put their plans of allowing their citizens to invest in the HK stock market on ice, causing the Hang Seng to drop 5 percent. To put this into perspective this would represent at 675 point down move in the Dow. There was no Japanese economic data released last night and leading indicators are the only data due for release this evening. As usual, Japanese Yen traders should continue to watch the equity markets for more direction.