With no related markets to hitch its wagon to today, USD/JPY trades with a heavy tone. It managed a pop to 100.70 overnight as EUR/USD worked through support in the 1.3115 area but it was unable to sustain those gains.100.00 bids are rumored on dips with more at 99.50/70.
EUR/JPY sales are helping undermine the greenback as prices dip toward a confluence of important support. Prices have dipped through the 10 day moving average and is now finding support from the 21-day average which looks very much like a trendline on the chart below. Actual trend support comes in at 130.00 today.
