FxWirePro: USD/JPY breaks support at 100.70, go short on rallies

• 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).
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Recommendation: Short around 100..50/60, SL: 101, TP: 100.20 /100/ 99.57