USD/JPY has seen some heavy selling in the last 10-15 minutes, with market sources attributing the latest slide through 120.70 support down to 120.25 to new selling interest emerging in the Nikkei 225, down 0.7%. The fall in the pair has now exposed 120.25 support - lowest in the last US session - ahead of 120.00 key psychological level. On the upside, any recovery should see selling interest re-emerging circa 120.50 followed by 120.70. (full story)