I can’t say it comes as much of a surprise. Not with all the forecasts I’ve been seeing calling for USD/JPY up around 90.00 in 2013.
But trees don’t grow to the sky and at some juncture we’ll see some consolidation of recent gains. Anyone got a clue when that’ll be, please let me know.
For today, talk of sell orders clustered 85.85/00 ahead of the next barrier option interest at 86.00.
On the downside, buy orders seen clustered 85.30/50. Talk of trailing sell stops through 85.20.
