USD/JPY has given ground this morning, presently down at 91.25 from early 91.65. I’m beginning to hear mutterings regarding fiscal year end (March 31st) flows, when the yen benefits from profit repatriation from abroad. I can’t tell whether it’s just anticipation of such, or whether the process is underway. I’ll have a nose round later.
Anyways, I’d suspect some buy order interest to be lined up down at 91.00/20, but I have absolutely no confirmation of that. Rather I’m hearing buy orders down around 90.80, which is someways off.
EUR/JPY is down at 124.20 from early 125.00, Japanese exporters having reportedly been seen selling above the latter level in Asia overnight.