USD/JPY has managed to steady after earlier heavy selling took it to a low around 96.00, as sell stops at 96.80 and then quickly at 96.40 were triggered. We’re presently back up at 96.60.
The JPY continues to be a beneficiary on the increased risk aversion seen today, and obviously we continue to hear talk of repatriation flows into year end.
Technical supports lie at 95.95 and 95.60, while resistances are up at 97.30 and then 97.80/85. Hearing very little in the way of meanigful orders so far today. Apparently decent sell orders lined up at 98.50 up through 99.00, but that’s someways off.
