Traders see some modest real money buying in USD/JPY on dips this afternoon and say there could be more in the session to come as toshin-related buying (Japanese investment rusts which invest offshore) is expected in the pipeline.
USD/JPY dipped as low as 87.35 earlier in the day. Stops are seen below the 87.30 level. Bids return toward 87.00. More stops lie below 86.90. We change hands now at 87.42.