We've seen a big demand for JPY in the wake of the sales tax hike delay 1 June As I highlighted in my previous post yen demand now picking up in the wake of Abe's sales tax hike delay. USDJPY 110.05 in a hurry from 110.55 after triggering stops through 110.50 and 110.30 . Demand/support at 110.00 the next hurdle with bids/support at 109.75 behind that. Rallies now should be limited to 110.50-80. Yen demand across the board helping to put downward pressure on core pairs. Nikkei still falling and now down -1.35%. Market perception appears to be that Abenomics is running out of ammo for further easing and/or a relief ... (full story)