EUR/USD has sold off below 1.2900, pulled lower by strong EUR/JPY selling as the Japanese yen sees good across the board strength in the wake of the BOJ decision to increase the asset buying and lending programme by 11 trln. What we’re seeing with the yen is a classic buy the rumour, sell the fact price action (or in the case of the yen, sell the rumour, buy the fact)
EUR/USD buy orders now lined up at 1.2880/90, sell stops through 1.2875.