USDJPY and EURJPY are finding a bid following the US Treasury bond auction.

The demand was slightly stronger than expected and indirect bidders were higher than April — perhaps suggesting offshore buyers (though I think that`s a stretch).

Offers in the 99.50/60 range evaporated quickly. Look for buy stops above 99.75 and then some big offers and barriers line up at 99.90 to 100.00.