Forex: USD/JPY drops sharply

on Jul 3, 2013
Listen Wednesday July 03rd_: Yesterday the pair rallied 1.15 percent and broke on through to the other side of 100.00. The march was however halted during today’s Asian trading, with the price encountering resistance at 100.75. Following a couple of futile attempts to go above that level, the pair fell sharply to 99.69 at the beginning of the European session. Currently the price is holding around 99.95.

The 100.75 level provided support from 23 to 30 May.
Resistance levels: 100.75, 101.25 and 101.50.
Support levels: 100.45, 100.25, 100.00 and 99.50.
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