USD/JPY is back at 98.25 after topping out around 98.50 earlier on JPY cross buying. The forex market is totally lacking in commitment and momentum during this Asian session and barring any major developments, it will continue in a quiet range tradeing mode until Europe get in.
Exporter offers at 98.65/75 are capping gains and good sized bids are also noted at 97.50, reinforcing the range-trading mentality.