USDJPY is looking a bit cliffy right now and it might not take much to nudge it over the edge

The mood of a currency can often be determined by it's reaction events. Fundamentally, Kuroda shot it in the backside overnight. Technically, the fact we couldn't reach the 38.2 fib of the late Jan drop tells its own story.

And thus here we are with one eye on the Feb lows instead of on the Feb highs.

USDJPY H4 chart

A test and hold of the low would be a strong signal for a double bottom, though any bounce would need close watching. Watch for support around 111.50/60 and resistance at 112.25, while 112.00 may develop some in the current PA. 111-113.00/30 looks to be the wider playground at the moment