USD/JPY sits at 94.65, where it was when I started out this morning.
There seems to be conflicting interest in the market at the present time. While the JPY is garnering support from the slightly heightened risk aversion evident today (as its’ safe haven premium comes into play), sources also note decent interest to sell the JPY against the Brazilian real, South African rand and aussie dollar from investment trusts.
The result is something of a stalemate. Technical support seen at 94.50, resistance up at 94.85/90.
