There I was busy trying to work out where the USD/JPY buy stops were and wham bam in the blink of an eye I’m busy trying to hunt the sell stops. The inability of USD/JPY to hold a fleeting move above the 200 dma hasn’t helped matters and we’ve sold off quickly to 96.70 at writing.
Technical support now lies at 96.50/60, with sell stops said to be lined up at 96.40
EDIT: WE’RE NOW HEARING A FORMER US INVESTMENT BANK HAS BEEN AGGRESSIVELY SELLING USD/JPY AND THE USD IN GENERAL.
