Forex: USD/JPY breaks below 93.00

USD/JPY has broken down a relevant support level at 93.20/25 following comments from a member of the DPJ Japanese opposition party saying that they would refuse the nomination of Mr. Iwata as BoJ nominee deputy, arguing that the intention of the academic-background BoJ prospect has the intention to change the central bank's law.

USD/JPY has reached levels as low as 92.90. The next key level of support is found at 92.80, Feb 21 swing low, where bids may emerge. On the upside, a recovery above the borken-support-turned-resistance at 92.30/30 is necessary to regain bullish tone.