USD/JPY is trading lower on the day, despite accelerated risk appetite, presently at 94.55. The move lower acclerated when sell stops around 94.80 were triggered.
The USD remains absolutely friendless, underminned by ongoing worries surrounding the US budget deficit, it’s funding, the steep US yield curve.
Sources report some buy orders lying down at 94.40/60, which may slow, if not stop, the decline.
I haven’t confirmation of such, but wouldn’t be surprised if there weren’t sell stops positioned not far below 94.40.
