USD/JPY saw a brief spike above 115, hit 115.25 posting a good 70 pip spike, markets suspect possible BoJ intervention.
- But the pair ran into fresh offers at highs, dragging it back below the 115 handle, currently trading at 114.76 levels.
- Yen appreciation past the 115.00 is undesirable, however fighting the market could prove to be a suicidal proposition for the BoJ.
- Japan's economic minister Ishihara was on the wires over the last hours, commenting on the Japanese economy.
- He said that Japan's economic fundamentals have been recovering and hope BOJ takes appropriate dialog with markets, appropriate action based on econ, price situation.
- Tokyo's Nikkei Average is extending downside on the day, down around 2.02 pct as we write.
- Technicals indicate further downside for the pair, immediate support is seen at 113.85 (Nov 10, 2014 low) and resistance at 115.85 (Feb 10 highs).
Recommendation: We would sell rallies around 115 levels, SL: 115.85, TP: 114.25/114/113.85


FxWirePro- Woodies Pivot(Major)
NZDJPY Eyes Higher Ground: Buy the Dips as Bulls Defend 88.70 Support
FxWirePro: EUR/NZD neutral in the near-term, scope for downward resumption
FxWirePro: AUD/USD firms as Australian household spending records sharp jump
FxWirePro: EUR/AUD poised for further downside after key fibo break
FxWirePro- Major European Indices
FxWirePro: NZD/USD sustains gains as uptrend remains strong
Yen Storm Hits EURJPY: Crashes Below 181 – Sell the Bounce Intraday! Target 179.50 with Tight Stop Above 181.45
FxWirePro: GBP/AUD gains some upside momentum, but bearish outlook remains
FxWirePro: USD/CAD extends drop, faces 50%fib support
FxWirePro: USD/JPY neutral in the near-term, scope for downward resumption
FxWirePro: USD/ZAR outlook weaker on renewed downside pressure
FxWirePro: USD/JPY dips below lower range, bearish bias increases
FxWirePro- Major US Indices
FxWirePro: GBP/AUD positions for another drop, eyes 2.0100 level 



