Dealers report sizable offers in USD/JPY being pecked away at around 99.50/55 in quiet afternoon trade. Forex is the only market in the word that I know of where you can tell traders there are huge sellers in the market and they go up and see for themselves…
Stop loss buy orders are mixed in with sell erders in the 99.60/70 region while offers are eyed ahead of 100.00 barriers, dealers report.
From a fundamental perspective, falling Japanese inflation and rising US interest rates are a powerful combo supporting USD/JPY.
