FX traders have been buying USD/JPY since late NY, through Asia into London
EBS flow data shows bouts of decent buying which has taken the market higher
108.43 Fibo, a 50% retrace of the 112.40 to 104.46 down-leg, is in focus
Despite the bid bias, bulls should beware the "cloud twist"
Spot has seen a 108.03-108.37 range on Tues, according to prices on the EBS
EUR/JPY's correlation with USD/JPY high, 30/60-day logs are +0.78/+0.73
EBS Flow Data Chart: Click here