A couple of events transpired. Moody's cut debt credit ratings on 6 European countries including 3 PIIGS nations in Italy, Spain and Portugal. U.K. and France on negative watch.
BOJ announced stimulus action and will purchase 10 trillion yen in JGB (bonds).
We saw EUR/USD drift down during Asian and form a BAJA bullish divergence on the 30-min chart.
Price now at session high of 1.3174, and bounced.