Yen Breaking 100 Per Dollar Sets Up 101.25: Technical Analysis
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A weakening in the yen past the key psychological support level of 100 per dollar will likely see it extend losses to 101.25, IG Markets Securities Ltd. said, citing trading patterns.
A monthly chart shows the yen halted its decline to 101.25 in November 1999 before again meeting resistance around that level in January 2005. The yen rose 0.3 percent to 99.38 against the dollar as of 8:06 a.m. in London. It yesterday touched 99.95, the weakest since April 14, 2009, when it last traded at 100.