USD/JPY is testing the 99.00 level. Sources report there is a decent-sized buy interest down at current level.
Technical support lies at 98.90/95 (98.93 is 200 day moving average).
The yen is garnering support from the fact US stocks are underwater as its’ safe haven premium comes increasingly into play.
Also there is talk in the market that Japanese lifers are bearish USD/JPY and EUR/JPY at the present time. The feeling is this reflects the likelihood they’re busy reducing their overseas investments.
