121 is where we found support after Friday’s bonser NFP number and that’s where we are finding support again as USD/JPY sags after hitting 121.85 in Asia.
USD/JPY M30 chart 08 12 2014
Going on the orders and barriers around today the topside looks to be well defended. We’ve got a minor support level at 120.65/70 with stronger at 120.00/119.98. A solid break of 121 could see us move quickly to test those levels.