That was an impressive run to take out the barrier at 1.2600 and stops just below. We printed as low as 1.25895. Expect barriers every quarter-cent lower to 1.2500 where there is a massive build-up of exotic options. Should momentum continue to the downside, that level will act as a magnet. 99.972 was the EUR/JPY low, as 100.00 barriers are erased as well. (full story)