Lower US yields and demand for a big Japanese share issue are helping boost the JPY today, pushing USD/JPY down toward recent support in the 88.10/15 area.
The USD/JPY selling intensified after the Fed lowered its economic forecasts and suggested rates are on hold for a very long time to come.
USD/JPY is presently finding support from a 50% retracement of the recent 86.95/89.15 bounce which comes in at 88.05. 87.80 is 61.8% of the same move, and the target on a break through 88.00.
