USD/JPY fell to 91.77 at its worst levels but met with good buying on weakness. A US investment name was one of the more prominent buyers, we hear. We’ve rebounded back into the 92.20s as if nothing ever happened. Very tough out there, and it is only likely to get thinner as the afternoon progresses.
The hourly downtrend referenced earlier is now at 92.71. Expect short-covering to accelerate above.
