Forex Flash: USD/JPY below 87.30/40 would dent constructive tone – TD Securities

FXstreet.com (Barcelona) - It's not common to see JPY bids nowadays, as the Yen has been falling since October, but the currency is among the top performers today after overnight buying, corroborated by softness in Japanese equities. Profit taking is seen as the main factor to this movement "as investors still remain fundamentally bearish on the JPY". "The overnight slide in USD/JPY is still within the bull channel, but a move below 87.30/40 would dent the persistently constructive tone", wrote TD Securities analysts.

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