The Japanese Yen is going through a severe round of selling on comments from BOJ Nishimura, stating the bank will continue to pursue powerful monetary easing by deploying new measures, while he also highlghted econonimc downside risks. Core CPI will approach 1% two years from now, he added. The USD/JPY has spiked higher from 81.70 reliable support, low from nov 28, and is now printing session highs just above 82.15. The vigorous bounce off mentioned layer of bids confirms this market aims at producing a typical consolidation box between 81.70 and 82.75, indication that the bullish tendencies may be poised to resume ... (full story)