The pair is operating within the short movement started on June 2008, offering a downwards movement of 3586 pips, trading at 86.54 yens per dollar, right now.Shirakawa, BoJ's Chairman, just announced that the central bank will intervene if the Japanese currency keeps climbing against the dollar.

If we observe the pair's evolution in the last two years, we could see an attack to the 84.82 lows, and then to the MA at 93.76 yens per dollar.