I guess Toyota will have to do less hedging
News that Toyota has suspended sales of 8 models owing to sticking accelerator pedals may just have some implications for USD/JPY. Assuming Toyota is a steady seller of USD/JPY, like most Japanese exporters, they will have few dollars to sell as sales slump.
Not a reason to buy USD/JPY on its own, but one background factor to keep in mind.
USD/JPY is easing along with EUR/JPY at the moment as Eurozone jitters (Greece, Portugal, Spain, Keep the EUR under pressure.
Strong bids in EUR/USD begin in the 1.4030 with more at of 1.4000/10. We trade at 1.4040.

AUTOREFRESH 













EURUSD 1.4053 broke, next support @ 1.4000
CORRECTION : EURUSD 1.4053 broke, next support @ 1.4021