From Gerry Davies forexlive.com
"the USD/JPY bears have been enboldened by lower US treasury yields (they’re easier again this morning)/pick up in general risk aversion. I keep getting reports of decent buy orders but they just seem to get taken out. This morning I had reports of “decent” buy orders from 80.35 down to 80.20, but didn’t even bother to put the info up as I didn’t trust it to hold. I get impression hedge funds have been decent sellers of this pairing/buyers of yen crosses of late. Obviously they’ll be some caution as we approach the psychological 80.00 line. One source told me this morning there is a feeling in the market the MOF will get serious once we hit 80.00, but that seems just pure conjecture to me. That said, I personally wouldn’t like to short below 80.00."
"the USD/JPY bears have been enboldened by lower US treasury yields (they’re easier again this morning)/pick up in general risk aversion. I keep getting reports of decent buy orders but they just seem to get taken out. This morning I had reports of “decent” buy orders from 80.35 down to 80.20, but didn’t even bother to put the info up as I didn’t trust it to hold. I get impression hedge funds have been decent sellers of this pairing/buyers of yen crosses of late. Obviously they’ll be some caution as we approach the psychological 80.00 line. One source told me this morning there is a feeling in the market the MOF will get serious once we hit 80.00, but that seems just pure conjecture to me. That said, I personally wouldn’t like to short below 80.00."
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