USD/JPY now down 250 pips as a correction turns into a rout. GBP/JPY is down a whopping 350 pips as fast money is blown out. Similar story in gold, up $31 to $1234 as all the fast-money momentum chasers are taken to the cleaners. USD/JPY bulls are attempting to make a stand at 118.00 but an hour ago the pair was trading at 119.50 and when the market starts puking like this, there’s no telling when it will stop. (full story)