USD/JPY is solidly above 94 with dealers expressing serious concern that the BOJ could intervene to buy dollar yen. AUD/USD is underpinned by actual buying by the RBA this this morning, a move which helped spur fears of wider central bank action to help limit extreme levels of volatility.
94.75/95.25 is a congestion area on the intraday charts. Expect some profit-taking in that zone but for buying to pick up if we get above 95.25. 95.70, the March 17 low, is now resistance.
