USD/JPY chops through 101.20 support via ForexLive

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And already finding it as resistance.

Driven or mirrored in the yen pairs, you take your pick but EUR/JPY broke the trendline I highlighted earlier and ran stops down to the 137.70 support. We're marginally below that as well at the moment.

EUR/JPY daily chart 10 07 2014

The volatility in yen crosses has been lacklustre of late, particularly in EUR/JPY. I'd remind some of you that they can easily blow 200-250 pips in short shrift should it take their fancy.

USD/JPY is finding bids ahead of 101.00 enough for now but we're edging closer to the 100.75 level and if that goes then we could be in for a fun ride.

posted via ForexLive

Posted In: ForexGlobalEconomics
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