- USD/JPY intraday bias lower.
- Pair breaks trendline support at 100.70 on hourly charts. Test of 100.20 likely.
- Japanese Ministry of Finance (MOF) official Asakawa crossed the wires now via Bloomberg, commenting on the MOF, BOJ and FSA meeting today.
- Asakawa said market volatility is continuing and BoJ is watching markets, especially FX, with urgency. He added that BoJ would act properly if there are speculative moves.
- Immediate support and resistance are seen at 100.20 (July 6 low) and 100.70 (trendline).
Recommendation: Short around 100..50/60, SL: 101, TP: 100.20 /100/ 99.57
