This is another pair which has me flummoxed at the moment. My tendency is to be short, despite the lowly level, but I think I’m in a minority as most other traders I speak with and whose opinion I value, seem quite bullish USD/JPY. In the short term, sales of the USD by Japanese corporations as they send profits home before the end of the financial year, continue to cap any rises and the offers are fairly heavy between 91.10/20 I’m told. Professional traders seem happy to buy dips as they anticipate an increased level of government intervention in coming months.