Looks like Mr. Market had a few USD/JPY in his pocket in anticipation of a firm ISM reading. The softer-than-expected February reading has prompted a round of position -squaring which has quickly dropped USD/JPY below 81.00 from 81.30 just before the data.
Bids are seen at 80.750/85 near-term. Stops are eyed in the 8070 region.