The JPY crosses have slipped lower in the last 30 minutes and traders say that it is due to positional readjustment rather than any major news or flows.
On the order front, it is interesting to note some good sized USD/JPY stops starting below 89.15 with more below 89.00. AUD/USD sees solid bids now starting below .8730 and solid offers starting above .8850 so we may be in for a period of range trading. Heavy stops are noted in the cable, starting above 1.8765. In the EUR/USD, 1.3850 is looming as the pivotal level with sell orders just ahead of there and quite heavy stops above.
