USD/JPY has overcome resistance at 99.27, the 200-day moving average and has triggered a fresh batch of stop-loss buy orders. More are eyed in the 99.70/75 area, above the 99.67 high posted earlier this month before the Fed opened the spigots and the reserve currency snafu broke out.
Protection of 100.00 barriers is expected as we approach that big, fat round number. Keep an eye on 99.27 at the close. A close above that level will embolden the dollar bulls.
