I feel that the big danger in this current market, especially in the JPY crosses and USD/JPY, is that the very heavy selling we saw yesterday was speculative in nature and the buying was real. If this is the case, watch out for nasty spikes higher as stop-loss levels get hit. EUR/JPY has rallied back 50 pips in 15 minutes, making up the losses made in the first 3 hours of trade.