A big option strike helped USD/JPY get to 99.00 today and a round of upbeat economic data helped the pair rise as high as 99.13 but several efforts to rise higher were rejected and that points to the risk of further declines.
One thing USD/JPY could have working for it is a large $800m option tomorrow at 99.50. It would probably take some positive smoke signals from Congress on the budget to get their.
