USDJPY is being dragged down by the yen buying
It’s the tale of the big figures today. Just as the euro is hovering around 1.0500, USDJPY is hovering around 113.00. There doesn’t look to be any real appetite in taking the level on and the yen crosses have taken their feet off the selling peddle for now. That’s a pattern we’ve seen recently, where yen selling peters out into the US session.