• USD/JPY witnessed wild swings on either side over the last hour on account of Japanese headlines surrounding stimulus package.
   
• USD/JPY initially spiked all the way up to 106.54 after news that PM Abe will announce stimulus detail today, and the package size would be 27 trillion yen.
   
• The spike was quickly faded after the Japanese Ministry of Finance (MOF) denied reports that it was considering issuing 50-year bonds as a part of the stimulus.
   
• PM Abe’s speech due later will be in focus for fresh insights on the stimulus package.
   
• Techs on intraday charts support upside, close above 7-DMA at 105.87 to see further gains.
   
• 20-DMA at 104.09 is strong support on the downside, weakness only on break below.