Fallout from earthquake does not come at a good time...
The USDJPY is surging in trading today and trades above the 200 bar MA on the 4 hour chart. The pair was boosted by talk of additional BOJ stimulation. Livesquawk is reporting now that GM will idle for 2-weeks due to supply disruptions. The news brings into focus additional headwinds in an already fragile economy.
The next target is the 111.435 which is the 61.8% of the move down from the March 29 high. Risk is the 200 bar MA now (green line in the chart below).