USD/JPY holding up well. Asian central bank seen in market. Sell orders noted

USD/JPY is having a good day, presently up at 99.40 having opened in Europe down around 98.50. Sources report that a certain Asian central bank has been a fairly aggressive buyer of the pairing. We can’t find out exactly what bank it is, but someone with a lot of knowledge of USD/JPY opined that it was probably Bank of Korea.

Technical resistances now lie up at 99.70/75 and 100.00.

Sources also report some sell orders (nothing too large) lined up at 99.80 up through 100.00.