USD/JPY is down on the day, presently at 94.90 compared to a European opening around 95.50. Its not a huge move lower, but things could be about to get a bit worse for the pairing if the technical backdrop is to be believed.
Technical support at 94.60/65 has been identified as an important support, and while we briefly pierced it earlier (low 94.49) any sustained losses below said level and we could well be looking at a move down to the 92.00 area. The chart can be seen below.
