The Nikkei 225 Index closed up marginally higher at 0.09% (10,609.64), with the larger TOPIX up 0.26% at 890.46. Not much to shout about, but both looking like they’re stabilizing after the recent sharp falls yesterday.
USD/JPY survived an early tumble on profit taking and some fund sales, but bids from importers ahead of the 88.00 level held firm (low 88.13) ahead of sell stops touted down through 88.00 and 87.80. Offers remain in the 88.70/90 zone with buy stops seen just above and again through 89.00 mixed in with offers.
USD/JPY’s currently trading around 88.57
