USD/JPY is under pressure this afternoon and prices actually dropped below today’s intra-day support levels. According to some of the talk in the marketplace, traders are cautious about tomorrow’s ECB interest rate announcement.
Prices broke below initial support at 93.30 and hit a low of 93.27. Prices are modestly higher but still under pressure at 93.35. A break below this are should lead to a test of the next support area at 93.25.
