That move on USD/yen from above 111.40 to lows circa 111.25 being blamed on:
- the lower Nikkei
- some stops on long USD/JPY
I am always wary of the stories we hear, even more so when the move is minor like this. Still, FWIW.
Levels ahead:
- offers clustered 11.50/60 still
- bids begin to thicken 110.80/85