USD/JPY touched a session low at 98.57 shortly before the London close. It was narrowly a new low and didn’t inspire any kind of selling.
Still, it has been a sideways/narrowly-downward struggle for USD/JPY since the post-ISM jump. There is talk of a barrier at 99.00 and strong exporter sales at the big figure. Japan was on holiday today so that kept a lid on trading earlier.
Strong bids at 98.50 are also keep in the pair in check. Not a lot to do except wait for the 98.50-99.00 range to break.
