USD/JPY: Still Technically Bearish

Yesterday's volatility in equity and commodity markets did not spread to the FX sector in a day that was devoid of any additional data. The lack of data left traders mulling over Fed Chairman Bernanke's admission that last month's comments to a reporter at a White House function about not being dovish constituted a "lapse of judgment of my part." Fed watchers have noted a more strident and "hawkish" tone to comments in recent weeks, as analysts mull over the likelihood of a June "pause." Read More....