My Forecast

15:00GMT data release was of 14:00 not 12:30; happy to see some reversal. I think JPYs drop will be further as BOJ just stood aside below 84. Players will be keen test BOJ; plus the T'mrrow's 12:30 US data will be the next target. So the current climb will not sustain for longer as many must have made LONG entries now with stops. Expect LONG's stop hunt..
13:45GMT GBPUSD

12:05GMT SHORT traps ahead.. this may be a player trick..
10:30GMT I think GBPJPY 129.50ish was the lowest for now and it should try a 38.2% reversal is a probability but on condition about the fundamentals at 12:30GMT USA data release.
10:00GMT News on JPYs
"Unless the Japanese step in with something more definitive, we will see speculative accounts drive the dollar/yen down to 80 yen," said Paul Robson, RBS Global Banking currency strategist. "The 85 yen level was pretty important and now with that gone, dollar/yen falling to 80 is a real possibility. That will hurt the Japanese economy pretty hard, unless they do something more on the fiscal side or resort to more quantitative easing."
"That correlation is pretty strong at some 95 percent and the market knows full well that the options in front of the Japanese authorities are pretty limited," said Neil Mellor, currency strategist at Bank of New York Mellon."Any intervention will have limited shelf life, so now the Bank of Japan has to formulate policies which can undermine the yen's strength. This will not be easy and we could still be headed toward the 105 yen mark for euro/yen."

Japanese Prime Minister Naoto Kan and Bank of Japan Governor Masaaki Shirakawa discussed the yen by phone on Monday and agreed to work closely. However, Kan did not ask the central bank to ease monetary policy further, and the two did not touch on currency intervention either.

Market players say the most likely response may be for the BOJ to increase the size or extend the duration of its three-month fixed rate fund supply operation.

But traders were still skeptical the authorities would resort to yen-selling intervention unless the currency's rise picks up more speed."Japanese policymakers will be desperate to prevent a break in dollar/yen down to 80 but that looks the trend," Chris Turner, head of fx strategy at ING said in a note.

04:45GMT EURs is looking for reversal I think GBPs data release at 8:30GMT will be key for the levels and reversal..
03:45GMT GBPJPY pattern target..

01:25GMT Good Morning Friends, JPYs dropped and this will be an important day as weekly pattern walls shows that weekly RSI is below 30s. My pattern rule says that the levels of weekly -127% & -88.6% are important for EURJPY & GBPJPY. This will be long-term lows and best for longterm big LONGs. GBPs are influenced by today's data and as per yesterday's pattern chart it should hit the levels before or during data release.