USDJPY is looking boisterous after failing up here earlier
USDJPY is trading at 114.90 after yet another test and hold of 115.00. I was well up for a short into a test of 115.00 yesterday but missed it this morning. The drop to 114.50 has now been erased and we're on for a second attempt at the big figure. I'm not inclined to short this move right now.
Trader talk is that there are stops building on a break of 115.00. Not only are they stop loss orders but there's stop buy orders in there too, which for the less initiated among you, is a way to trade a break.
Further large offers are seen into the 115.50/60 area, as Mike noted earlier.
