Forex: Yen crosses close gap in Tokyo (Barcelona) - The Japanese Yen is recovering ground since the Tokyo open, after previously extending losses in thin twilight markets. The turnaround has taken USD/JPY from 91.25 back to its NY close at 90.90, while EUR/JPY, which had expanded to the upside until 122.90, has rotated back to 122.20, where it faces the 20EMA on the hourly chart.

As a reminder for traders, headlines from Japanaese officials continue to cross the wires, with the latest from Heizo Takenaka, key economic advisor to PM Abe, and possible BoJ chief successor, suggesting there is room for further Yen weakness, according to an article from the WSJ.