Usd/jpy - 88.54 ... Although the greenback has recovered after y'day's drop to 88.29 n sideways trading wud be seen, upside wud be ltd as seven Japanese investment trusts or toushin targeting overseas assets launched today, attracting a total of 4.75 bln yen in funds despite early release of weaker-than-expected Japan's economic data, including manufacturing PMI, construction orders n housing start. Offers are tipped at 88.65/70, 88.80/90 with mixture of stops n offers is tipped at 89.00. On the downside, sizeable bids by Japanese names remain at 88.20-00 region with some option-related stops seen below 88.00 barrier.
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