USD/JPY: Still plenty of buying interest below 81.50
USD/JPY has looked susceptible at times to a clean-out of long positions but so far the bulls are holding their own. The interbank market is still reporting plentiful buying interest near 81.50 and just below. Many are expecting a surge of Yen buying as the election day looms but then again many had assumed that the AUD would fall after a rate cut. Sticking with the recent trend in USD/JPY seems like the logical play so buying dips is still the preferred trade.