USD/JPY is still stalling below 83.25 but the JPY crosses are maintaining their strength. In Asia, pairs like the KRW/JPY are putting in some big moves with the USD/KRW at 30-month lows whilst the USD/JPY is still rallying.
The carry trade looks to be fully back in fashion with the hedge fund community, and none of them would like to be left behind if a big move starts. There may be quite a bit more topside left in the JPY crosses before the big speculators all get on board.
