All of the focus overnight was on EUR/USD and the EUR crosses and pairs like USD/JPY were pretty much ignored. Some stops were triggered on the break below 82.60 and although there was no follow-through, the danger would still seem to be to the downside. Asian currencies have again been strengthening and USD/Asia is likely to open lower today. This will add to bearish USD/JPY sentiment. It will also mean more intervention from ACBs as they fight in vain to keep their currencies weaker. USD/CNY will probably be set at another record low below 6.60 ahead of the Chinese delegation visiting the US. All up, it sounds like the danger side for USD/JPY this session is the downside.