We all knew it would happen some day…maybe the day of reckoning is approaching. Japan’s oversized debt load is beginning to take a modest (very modest) toll on the JPY. The buck has been supported by growing Japanese government concerns over the size of the debt, saying it has reached a “critical stage”.
USD/JPY is firming, up to 82.35 after bouncing from 81.85 US lows yesterday afternoon. Kampo has been a rumored buyer on weakness in recent days.
82.35/40 is resistance; more lies at 82.70/80.
