The market showed some beer-muscles after the US retail sales number, dipping initially after the US retail sales report but then trying to buy risk again despite the set-back from the data. That bounce is fading and USD/JPY is giving ground as a result.
Also weighing on USD/JPY are slumping US bond yields (who needs the Fed?) and talk from the DPJ that they are willing to tolerate a stronger JPY.
US equities have turned into the red and USD/JPY is slumping along with them. Uptrend support at 95.27 is being tested as we write. More support is at 95.10.
