The move’s largely seen as a correction ahead of the conclusion of the BOJ meeting which is expected to result in further asset purchases.
Japanese exporters were among the sellers from the Asian highs of 90.25, but the underlying tone remains positive for the pair, with bids found now on approach to 89.40, some sell stops below through 89.20,ahead of bids 88.90/10 and tech support at the tenkan line (88.54).
Offers lie from 90.00 up to 90.25 with buy stops through 90.30. Talk of barrier interest above at 90.50 and the top leg of a DNT up at 90.75.
USD’s presently trading around 89.59
