USD/JPY - 93.69.. Renewed cross-buying in yen in early European morning trading has pressured dlr after initial recovery to 93.99 but continued slide in regional bourses in Asia (N225 closed down over 3%) prompted more risk aversion. Report of option defence at 93.50 but stops are built up below there, break may send dlr lower to 93.00/10 later. Offers remain heavy at 93.85/00 area, suggesting selling dlr on recovery is the way to go.
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