11:49 GMT Nov 13th USD/JPY and the JPY crosses lower on the Asia open in response to Negative DJIA close (down 411) and expectations of further stock weakness. Disappointment over US Tsy Sec Paulson and TARP, as well as plunge in GBP (after dovish BOE inflation report) and general risk aversion, all took their toll. USD/JPY fell just shy of the 94.48 New York low, while EUR/JPY extended to 117.65. Profit taking then saw these markets bounce (led by crosses) - USD/JPY reached 96.10 and EUR/JPY 120.02 before see-sawing with Nikkei through rest of the Tokyo session. USD/JPY opened London around 95.55 and traded higher, as DJIA futures reversed initial losses to trade back in to positive territory. New daily highs at 96.23 were posted (120.40 on the cross) before a turn in fortune for DJIA futures left 96.35 stops intact and took the pair back to 95.50-60. Support comes in at 95.20 and 94.50, with fair size bids touted in to yesterday”s low at 94.48. EUR/JPY has dropped back to the mid 119″s, but still some 50pts above rates seen on the London open as EUR/USD aids support. USD/JPY Expiries at 96.35 today.