AUTOREFRESH 
USD/JPY perilously close to 87.11
By Jamie Coleman || November 25, 2009 at 19:47 GMT
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USD/JPY slid as low as 87.22 as the dollar circled the drain upon breaking 1.5100 in EUR/USD. 87.11 contained dollar weakness from late 2008 into early 2009 and we presume there is some sort of options structure at the 87.00 level that will continue to be defended on dips.
An 87.00 break would be technically bruising in USD/JPY, opening the way for a slide toward 79.70, the 1995 lows, on a technical basis. We’d expect to hear the usual semi-official support from the Japanese but would be very reluctant to try and pick a bottom in USD/JPY as the greenback weakens across the board.
BoJ all talk about intervention … don’t see any