A mild POP
Thar she blows. What next for USDJPY?
That's more like it. It appears we may have a proper break on the cards now. The decent technical support isn't down until 106.60 odd. It's not been an explosive move which suggests that there's no panic hitting of the sell buttons. Large stops are noted at 109.80 so they remain in play. The orders from Mike's earlier post also remain valid but technically there is scope to see a rapid move to the low 109's from here. Watch for 110 to start building resistance and a hold will signal further downside. There's another barrier at 109.00 with the usual bids and stops. Update: As I hit send we see a pop to 110.40. I await ... (full story)