US equities are on the slide, as are their European cousins, setting off more risk aversion.
USD/JPY is down to 90.11 and EUR/JPY is at 111.20 session lows.
Japan’s Kampo, an arm of the postal savings system, was a buyer around the 111.00 level in EUR/JPY yesterday, so perhaps they will stick a toe in the water again today. Expect stops below the 111.00 level.
