Japan MOF’s Tango: Watching currency moves closely

Nothing like a bit of verbal intervention. Japan MOF’s Yasutake Tango says officials are watching currency moves closely, but declined to comment on specific levels.

USD/JPY is trading marginally firmer on the day, presently up at 90.60 from a European opening down around 90.45.

Talk of some sell interest up at 90.70/80, which has so far capped the topside. Below, buy orders seen at 90.20 down through 90.00 where barrier option interest is said to lie. Not surprisingly, sell stops said to be gathered just below the psychological 90.00 level.