USD/JPY found aggressive buyers below 98.75 in the overnight session – bids remain in place around there, and more have been added. Asian names cited, and expect to see Japanese importers on the bid today also.
To the topside 99.70/75 is selling; barrier defence, Japanese exporters and leveraged names all having USD/JPY to go up there. Sellers are also present ahead of 100.00. Trend measures are still pointing higher.
EUR/JPY bids in around 129.00, to the topside 130.10/25 offers cap it. While EUR/USD is approaching an important resistance zone, yen moves are the dominant driver of this pair.
