USD/JPY is threatening the commitments of the bulls below the 108 handle still and the Yen retains the top spot on the board after yesterday's BoJ showdown. As analysts at Westpac explained, "USD/JPY had been at 111.70 when the Bank of Japan announced that it was not loosening policy, sparking a collapse to 109, which extended to just under 108.00 in New York, the yen about 3% stronger over the day." However, most significant is where the analysts highlighted, "If nothing else, Governor Kuroda has demonstrated that weakening the yen is *not* a priority for the BoJ, consistent with his long-standing rhetoric. ... (full story)