Japanese Yen Crosses Weaken Further, EUR/JPY Testing Key Levels

USD-JPY has triggered the stops under 94.50 this afternoon, with risk aversion fueled by the extended slide in the Nikkei, which has now declined by 2.30%. USD-JPY has triggered stops as low as 94.30 with a low of 94.24 traded so far. Bids are tipped at 94.00 including option defense but more stops are eyed below. JPY crosses remain offered though EUR-JPY has managed to hold above 131.00 so far. Stops were triggered earlier in the session on the break of 131.40 with more expected under 131.00 with bids eyed at 130.50.