One US bank is reporting sales from both real money funds and hedge funds which started on Friday and is continuing today. EUR/JPY and AUD/JPY are the crosses bearing the major brunt and USD/JPY is also seeing some selling. It seems that the professional players consider the liklihood of intervention to be quite remote.
Macro type stops reported in EUR/JPY below 1.0800 but USD/JPY is again expected to be well supported on dips towards 76.25.
