USD/JPY higher in afternoon trading

The USD/JPY is has regained it's footing and moved back toward the highs of the session Tuesday afternoon. The pair is trading at 118.65. Chatter is creeping in about the headline news regarding the Japanese citizens captured and held for ransom by ISIS. Meanwhile Japan's Central Bank is due to release it's Monetary Policy Statement on Wednesday at 7:30 PM ET. After the release the BOJ has a press conference at 11:30 PM .Forex markets are trading choppy .