USD/JPY heads into the final hour before the month-end fixing with a head of steam, trading now at 98.77. Offers are expected from Japanese exporters near the 99.00 level but it could get jumpy on the topside if these offers don’t materialize. From a Fibo perspective, 100.18 is the 76.4% retracement of the drop from 103 to 90.90. Dealers wonder if the dollar will plummet once the month-end demand evaporates after the fixing.