USD/JPY has recovered back to 9595 after BOJ governor Shirakawa said that said in London that excess forex volatility is not desirable. Given the relatively low volatility in USD/JPY of late it is hard to see this as much of a protest against recent price action. Japanese officials do not want a stronger JPY at this juncture, so perhaps this is a veiled warning to JPY bulls not to get carried away.
USD/JPY tested support in the 95.60 area earlier in the hour before bouncing to present levels. Stops are eyed in the 95.350 area dealers report.
