Presently at 82.10. Market little wary of running into Kampo below 82.00, but can’t say I’ve had recent reports of said entity lined up there. But guess they probably are.
The Egypt-related risk aversion seen Friday, which underpinned the yen, seems to have abated a little this morning.
Talk of sell stops below 81.80 and 81.70 in USD/JPY (take your pick,) before buy orders clustered around 81.50. More stops below there.
On topside, some buy stops seen through 82.50, but not thought to be overly large.
UPDATE: I’ve just been informed Kampo was seen on the bid below 82.00 overnight in Asia
