With stocks turning lower, USD/JPY has taken a fresh leg to the downside. Intraday day support at 96.85, a level that put up a good fight several ties this morning, has now been overcome lows of 96.53 have been recorded thus far. The usual chatter about barrier options being protected is now making the rounds.
95.71, the March 17 low is the next major support for USD/JPY.
