Try as it might, USD/JPY could not overcome offers in the 81.50/60 area overnight despite a broad USD recovery and we’re now back smack in the middle of recent ranges. Support is strong at 80.90 while resistance seem s just as stout at 81.50/65. Stops are building on both sides of recent ranges.
USD bears would like to see a bit more downside momentum. About the only thing the bulls can take credit for is slowing the greenback’s inexorable slide.