USD/JPY is getting a boost in its very choppy range this morning, not at 83.22 from 83.12 a short while ago. A warning on Japan’s credit rating overnight from Moody’s as well as a spike in oil prices (Japan imports 100% of its oil) are undermining the JPY today. Lower US yields are putting s bit of a break on the rally as are long dolla positions built up in the last week or so….83.50 is resistance.