A quick look around
The USDJPY fell to the 2-week lows on the headline, but has retraced more than 50% of the move down. The low reached 110.087. That was new lows for the year, taking out last weeks lows at 110.10. However a break of 1.3 pips below the year low, is not a run away market (buyers were looming in the 110.00 to 110.10 area) and the price has moved back up to where it all started (at 110.70). The 100 hour MA at 1110.749 remains as topside resistance.