Short from 121.61 (trailing 10pts) daily breakdown to 121.20 if the 121.50 level cracks anyone else awake?
SONY earnings very predictable secondary to ps3 cost plus dumping price. The marketplace knew this, so the earnings would have been known to be down. This is pressuring the index, and indirectly usdjpy. But more importantly economic news out of japan is further reducing likely hood of BOJ raising rates. This increases the risk that USDJPY test 122.20 and blows through, then 124.70 becomes possible. Also, the economic reports are being reported weak on purpose to reduce pressure on BOJ to raise rates from opposition groups. Also the pressure will be less from foreign central banks and politicos if news is reported weak on purpose.
i am playing purely technical, big daily star on the usd/jpy the 60 min chart is downtrending covered some at 1254, will add at 1258 again