USD/JPY is regaining strength, closing on on recent highs near the 94.50 area once again. Bad news for Japan is suddenly being taken as bad news for the JPY as the Aso government on the thinnest possible ice. The incoming finance minister will be at the helm of three departments simultaneously, not a good option during a very testing economic downturn.
94.63 remains the key technical hurdle above the market; a sustained break agrues for much higher levels ahead. Exporter offers lie at 94.50 in advance of the resistance. USD/JPY trades now at 94.34.