USD/JPY has pushed to fresh session highs in the 89.78 area with dealers noting strong buying from a big US commercial bank absorbing the sales from a similar name around 89.70. It is interesting to note that most of the interest arouf these levels has been US and not Japanese.
Toward the 90.00 Japanese interest is said to return via offers from Japanese exporters. There are lots of 90.00 expiries this week which should provide some supply in the 90.20/25 region if we happen to extend the rally from here. We trade now at 89.73.
