USD/JPY has repeatedly found support on pullbacks to the 93.85 level in recent session. A late Friday afternoon stock swoon could make it a bit vulnerable though. Stops have to be piling up from short-term specs just below that level, it stands to reason.
As stocks fall, US yields fall and those tend to undermine USD/JPY. News earlier today that the BOJ would take steps to help Japanese banks ward off deflation has helped undermine the JPY but it remains to be seen if short-term traders can withstand an afternoon pullback. We trade now at 93.93.
