Flows and Orders/FXWW News/Technical Analysis/USD/JPY

USD/JPY: Large bids reported between 96.70/90

The low so far has been 96.87 and interbank dealers report large bids at regular intervals between 96.70/90, mainly from Japanese institutional and semi-official names. Like I mentioned earlier today, the 200-day SMA is the big technical level close by and large stops are expected sub-96.50.

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