Offers eyed at 99.20; stops above 99.30

Markets have simmered down in the wake of the month-end fixing but topside pressure in USD/JPY persists. Momentum players are pushing the pair higher, hoping to trip stops above the 200-day moving average at 99.27 and take a run at trend highs at 99.67, dating back to early March.

Expect barriers at 100.00 to be protected if topside momentum can be sustained.