surprise rally of the JPY on the opening of the US market, caught off guard many traders. Indecies opened 1-1.5% lower, and JPY went south, but AUD went north. After so much disappointing data in a last couple of days that did not stop yet, we see no reason for the move higher is USD/JPY. Just as a caution for the "japan intervention" stops are placed @ 87.05, and targets are @83.80 Trend line serves as a clear resistance, and RSI indicator is showing that there is gradual decline in USD/JPY. Pressure on the JPY is enormous and solutions are not in FX intervention, and Japan is well aware of it.
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