Published at 10:31 (GMT) 25 Jun

USD/JPY losses have been contained at 123.30, with stop losses through 123.50 triggered with limited effect. There is little to panic about here until we reach the mid 122.00's, where we then come to test the 122.43-46 lows from last week and the week before. The crosses have all been dragged lower, though as mentioned earlier on, there was also some EUR/JPY selling, tripping the stops through 137.90, and we have also seen GBP/JPY hitting a new low on the day just shy of 193.40. AUD/JPY is still very much in a tight range, though stops through 95.00-90 are looking a little vulnerable now.

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