The weak US equity market has seen Asian equity indices opening lower and staying under the waterline. Currencies for their part continue to see technical pressure for a pullback from the hourly charts though fast approaching overbought levels among the oscillators and already showing signs of a fresh short in the 15-minute time frame. Still we recall yesterdays price action where the broad sell-off only came in as Japanese traders came back from the midday break finding things little changed. The next few hours however will be looking at an event risk with a Japanese interest rate decision, but more importantly an accompanying monetary policy statement and BoJ press conference.
