Once again all the action has been in USD/JPY, and in AUD/USD to a lesser degree. EUR/JPY flew through sell orders near 112.00 when the BOJ entered the market but this selling weighed a bit on EUR/USD, causing it to drop from 1.4025 to 1.3980. The bids we mentioned earlier helped put a base in and I think we can expect some range trading for the rest of this session.