USD/JPY has sold-off to 94.25 at writing from a European opening up around 94.70. Sources now report Japanese importer bids lying down at 94.00, which may help slow the decline. I’d be wary of saying they’ll stop the sell-off, given the strong negative bias toward the greenback.
On the topside, sell orders are seen at 95.00 up through 95.40.
