FX Update- USD/JPY
USD/JPY found an interim base around 108.50, and has since ticked up to current 108.70 levels. European name buying has been noted most recently, likely on the back of intraday account short covering, though softness in the yen crosses continues to keep USD/JPY gains contained. From here, more selling from Tokyo names is expected around the 109.00 region, after overnight interest from these accounts was said to have been large.