USD/JPY is seeing some selling from both US and Japanese names near the 91.50 level as price grinds higher in late Friday trade. Seems as though some of the shorts are a bit concerned by the greenback’s resilience above the 90.100 level.
The shift in rhetoric from Japanese FM Fujii (I don’t like strong yen after all…) and a modest dollar rebound against the other majors are helping support the buck as well. To that, throw in a nice 8 bp pop in US yields.
Stops are seen just above the key resistance at the 91.63 level, starting around 91.70. A close above 91.63 will signal to many a short-term bottom is in for USD/JPY.
