Forex: USD/JPY holding above 101.00 the figure in London

FXstreet.com (London) - The Yen is holding it’s own above 101.00 the figure this morning in European open and London.

The pair surged through the 100.00 target which has been tested umpteen times of late, when the greenback had strengthened across all major’s, triggered by comments from Fed’s non voting member Posser in favour of calling back QE3 next month. The dollar had rallied immediately after the slightly than better jobs report as well, and the move was further exuberated when sell stops betting against the greenback were taken out across the board. The USD/JPY breach 100.00 in north American trade and was taken much higher in Asia hitting a 4 year high of 101.20 where it meets resistance and may take a respite here on profit taking ahead of the weekend. Technically, this would make allot of sense on the charts. Alternatively, this might be taken a stage further by the brave with stops placed on pivot to the downside and the around North American close. Time of writing, USD/JPY is faltering from the highs at 101.12