USD/JPY, under heavy selling pressure!

usd-jpy june 08.

USD/JPY is falling like a rock from the start of the day, Japanese currency has strengthened 1,55% today versus US dollar. The pair opened the day at 122.55 after wich is fell for almost 200 pips, wich is not usual here and it reached 120.61 low for now. Daily MA100 is broken at 121.01, it looks like there is no end. This level at 120.40/60 is important and very strong daily support and if that breaks, the way to 118.30/50 could be opened and this level could become a strong reistance in the coming weeks. Very interesting day here, who would expect this!? On the other hand, stock markets are down heavy as well today and based on that, this is not surprise. If this level hold, on the way to recovery, 121.30/40 is first reistance, 121.90/122.00 second, the stronger one. Strong daily up trendline is placed at 120.31 as well bellow the support!

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