USD/JPY dipped as low as the 89.90 level as traders liquidate longs. Markets are very sloppy this morning with a cohesive theme difficult to come-by this morning. It seems as though the market has decided to do what it does best, and that is trigger stop-loss orders. More lie in the 89.80 region.
Looks like the market was long after the earlier comments from Japanese officials fretting over a potential double-dip in the economy and traders assuming prices would be held aloft by yards of expiring 91.00 strikes this morning. USD/JPY trades now at 89.98.
