The same US mega-bank that has been buying USD/JPY since the middle of last week on behalf of a macro fund, traders say, and they are at it again this morning. They’ve been buying in dribs and drabs of $100 mln per clip.
Offers are seen in the 92.65/70 area near-term with heavy sales from 93.00 on up.
The daily chart in USD/JPY looks stellar but a break below the 92.30 area will mar the picture…
