Traders relay word that mutual fund-like investment trusts for Japanese retail investors denominated in emerging currencies like ZAR, BRL and AUD could cushion the slide in USD/JPY today. Stops below 91.00 were triggered earlier and prices have bounced a bit, now at 91.12.

Heavy selling of AUD/JPY and the like was seen overnight as risk appetites were trimmed. Model and momentum funds were very heavy sellers.

91.40 is resistance on rebounds intraday while 90.90 and 90.45 are supports.