USD/JPY gains have been retarded by cross selling but they have not been entirely snuffed out. The greenback is zeroing in on 96.50/55 offers as we write and the stop loss orders that lie just above that level. The not-insignificant chance for a broad USD reversal (using the USD dollar index as our template) is helping underpin USD/JPY late in the session. A break of the 96.50/55 area targets a rally toward the 97.18 high posted last Thursday.