09 Apr 2014 02:46GMT
USD/JPY - 101.91... The greenback is nursing loss in Tokyo trading after yesterday cross-inspired sharp sell off to a near 3-week trough at 101.55 in NY afternoon, intra-day renewed weakness in Nikkei (currently down 266 points to 14,340) due to the surprise yen's strength on diminishing hope of further stimulus from BoJ following Tuesday's mildly bullish remarks by BoJ's Governor Haruhiko Kuroda.
Despite staging a rebound to 102.05 at Asian open, selling USD on recovery ahead of Europe open is the way to go but traders should not be too bearish as sharp fall below 101.55 is unlikely to be seen ahead of the release of Fed's March meeting minutes later today.
Bids are noted at 101.70/60 n more located further out at 101.30-20, whilst layers of offers are placed up from 102.10 to 102.50 with stops emerging just above 102.70.
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