US yields are losing ground this morning as money moves into bonds, seen by some as a safe-haven play given the unrest in Bahrain and Libya to name a few, as well as the Iranian plan to move ships to Syria via the Suez Canal.
We’ve triggered stops below the 83.40 level and now look to support at 83.10/20 as the next source of demand for USD/JPY. A break targets the 82.80 region.