Dealers look to be happy to sell strength in USD/JPY, very mindful of weak economic from across Asia in recent days. Chinese GDP growth has slowed sharply, Japanese industrial output is tumbling and South Korean exports cratered last night. It is hard to see rallies in USD/JPY and EUR/JPY being sustained against that backdrop. Here are some orders Sean pointed out last night:
Good offers are seen between 90.10/20 but some stops above 90.35 and 90.50 might come into play. More strong offers between 91.50/65 with medium term players stopping out of their shorts above 92.00.