USD/JPY traders in the States tend to sit up and take a bit more notice when they see Japanese banks out of Tokyo active during the afternoon hours. One contact just told be he was just paid for USD/JPY (Japanese bank bought) in the mid 84.70s by a Tokyo name, for what its worth…
USD/JPY is consolidating gains amid a modest rebound in US equities and a back-up in US yields. the 10-year note is now at 2.535% from 2.42% at its lowest this morning, a supportive factor for the USD/JPY. Offers reside int he 84.80/90 area but stop-loss buy orders kick-in just above 85.00.