The 120 USD/JPY story out earlier this week has been given a re-run by Reuters after they interviewed Motohisa Ikeda about the early story (Japan ruling party says seeks 120 USD/JPY). Motohisa San will be happy now that he has got two reactions from the one story. USD/JPY down around 30 pips already from the 93.15 spike. EUR/JPY now 74 pips down from the higher. I think it pays not to think too much in this market at the moment .