It's been a steady slide for yen pairs this morning 26 May
USDJPY has now posted lows of 110.96 after capping at 111.60 late-Asia/early-Europe with yen demand notable all the way.
That's capping core pairs too with GBPJPY a prime mover again but EURJPY supply also helping to cap EURUSD after its earlier spike to 1.1225
Expect more of the same as political concerns dominate the landscape and I remain a rally seller. Sorry to be boring but it seems to be working ok as a strategy.
USDJPY demand/support into 110.80 the next target. Large option expiries at 111.00 and 111.25-35 might help contain.
US durable goods and Q1 GDP looming at 12.30 GMT but it's going to take something special to shift attention back to data right now.
USDJPY 15m
USDJPY 240m
