USD/JPY traded just below 92.00 and EUR/JPY below 124.20 in late New York/early Asia where both found buyers – Japanese importers notable buyers today.
USD/JPY traded as high after this to 92.50/55, EUR/JPY t0 125.00.
The only comments of note were from the Secretary General of the OECD who said that Japan was “genuinely acting to beat deflation not merely cheapening the yen”, so helping to ease the ‘currency war’ accusations recently leveled against Japan.
There are still reported good size bids around 92.00, with further interest down through 91.80 and then 91.50. Note, though, there are stop loss sellers from 91.90 and below also; more again below 91.50.
On the topside 92.50/60 hold sellers, and again there are more sellers on the way up, notably around 92.70 and 92.90.
EUR/JPY offers 125.65/75 and 125.20/30
On the downside, bids 123.65/75 and 123.00/20
