Falling US yields are undermining USD/JPY further as the pair slips below the 86.50 level.
Like in EUR/USD on the topside , stops are heavy from options players on the downside, traders report.
EUR/JPY selling has intensified as well, pushing EUR/USD through the modest support at 1.2955. 1.2920 is next support for the euro.
111.50/55 is modest support for EUR/JPY after stops were trigger on the break of 111.80.
Risk aversion is the focus at the moment.