Watching Nikkei index closely as it approaches January 24 support at 18,787. Low so far today is 18,766, which was touched a few minutes ago. A clear and sustained break of that Nikkei support level should cause additional downward pressure on JPY pairs as risk/carry trades unwind further.
![](http://www.dukascopy.com/imageserver/img/941cd3c6c17ddb57965b216e693a9f78/500_2/image.jpg)