USD/JPY is seeing relatively orderly trade in early Europe. The pairing is holding up pretty well, presently at 98.35. The JPY has been hit hard by the improved sentiment we’re seeing as its’ safe haven premium is put firmly on the backburner.
Sources report US model and momentum funds having been aggressive buyers of USD/JPY in this latest leg higher. Sources also now report that there are some sell orders lined up at 98.60 up through 98.80, so any further upside may be a grind rather than a spurt.
