TOKYO, Nov 1 (IFR) - Relatively good demand for USD/JPY was seen at today's Tokyo fix, not surprising given the to-do seen earlier and USD/JPY also down earlier to a fresh 15-year low of 80.21. The to-do having to do with possible Japanese official intervention also looks to have helped prod Japanese importers to take advantage of current levels as well. Those short the market are also seen to have helped floor this market around 80.50, the retracement low following the surge up to 81.60. With quite a bit of event risk also seen this week and given market nervousness of possible Japanese intervention, it just may just be a good time to pare down JPY longs/USD shorts. USD/JPY currently trades 80.67/70 having quieted considerably after the to-do seen earlier, possibly the result of a miss hit by algos according to some in the market. [email protected]
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