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USD/JPY holds sub-122

Tuesday, March 10, 2015 6:20 AM UTC

Nikkei gapped up at open but dropped hard on profit-taking.
From 18,924.38 to 18,577.06, close 18,665.11, down 125.44 pts or 0.67%.
USD/JPY pulled down from fresh trend high of 122.04 to 122.70 level.
USD/JPY presently on hold.
Some resistance at 123.00, USD770 mln in vanilla option expirations today.
Little in way of resistance, 122.62/123.67/124.14 7/13, 7/9, 6/22 '07 highs.
Technical supports 121.61 hourly Ichi tenkan, 121.34 hourly kijun.

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USD/JPY holds sub-122

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