Good demand for USDJPY was seen heading into the Tokyo fix today which has continued, with only a shallow retracement on the pullback. There has been talk that the USDJPY buying is related to a large M&A deal of a few yards in size. However exporter sell orders on top ahead of fiscal half-year above 90.30 have stopped any further rise in Asia so far.
Above 90.30 there is a chance to see USDJPY move towards 91.30-50, helped by shorts will looking to cover.
