USD/JPY: Finding Support After 119.00 Prints

USD/JPY is finding support after printing a 119.00 low in the wake of a plunge in US durable goods. The pair is currently hovering around 119.05/07, yet is struggling to carve out a decent recovery, which should eventually result in a test of interest just below 119.00. Option names and Japanese institutional investors are noted at the lows and we would expect to hear quasi-official names touted if this price action continues.