So the USDJPY is nearing that 75 mark where the BOJ stepped in with force last time. The fundamentals still point to a stronger yen, as do the technicals, and the pair is a month off the time that it took to break out of its previous trading range in June 2011. BOJ have stepped in at lower levels each time, hoping for natural support, but Japan's deflation just supports their ability to print an infinite amount of money to pay off their debts (unlike the US, which risks hyperinflation if it tried to implement the same policy). The full reasoning was here. MyBlogHasAdvertising.EtHasRules.com A few traders I know are bullish, on the basis that Europe is containing its crisis, but depressed T-Note yields aren't signalling any slippage in demand for safe haven assets yet. I'd say short it until 75, and then take profits with any sharp falls, in anticipation of possible BOJ action. Any thoughts anyone?