USD/JPY fell initially on the GBP/JPY flows but that momentum has carried on somewhat and USD/JPY has fallen below 90.00, although dealers say that volumes are not heavy. I’m hearing that there are some buyers lurking around 89.70 which should be enough to contain any further dips pre-European market. EUR/JPY has also continued to drift lower and is getting very close to the bottom of the support band I mentioned earlier, which comes in at 122.30.