Forex

USDJPY
Could not hold above 102.80 support yesterday (outlined as crucial support yesterday’s report) and saw another big sell off overnight dipping below 100 level this morning. Stock markets have been quite choppy over the last few sessions and this translates to more volatility in JPY as well, so keep an eye on development in stocks for clues on JPY going forward. Have falling resistance coming in at 103.10 today, so bearish momentum intact below this level.
Support: 100 (key level)
Resistance: 103.10 (falling res), 104.95 (former 2008 low), 105.70 (former key support), 107.04 (former rising support), 107.25 (falling res), 108.63 (overhead res), 110.00, 110.70, 112.80 (key level) 114.60 (key level), 114.73 (reaction high 11/7-07)