Well the market’s having a pop at the bids ahead of the 79.50 barrier with a low just now of 79.61 logged on the EBS matching system. Just been told there’s a sizeable bid for $400 at 79.60 at the moment.
Could well be semi-official/official in flavour, but it has to be said that’s not a particularly sizeable bid in USD/JPY terms these days….
There are sell stops apparently on a break of 79.50 and 79.40, with some traders now targeting the 78.50 level