USD/JPY has traded very marginally firmer during the Asian session, presently at 87.60 from North American close Friday around 87.35. The rally is proving tough sledding for the yen bears as they battle through reported sell orders layered from 87.50 up to 88.00. Probably stops gathered just above 88.00, but I don’t have confirmation of such. But there is talk of sizeable stops through 88.50.
Guys overnight mentioned sizeable stops above 113.50 in EUR/JPY. These getting tripped would no doubt ease the tough sledding in USD/JPY.
