USD/JPY has popped up 40 pips pretty quickly and of course everyone immediately thinks that it might be the BOJ but that does not seem to be the case this time. A friend in Singapore tells me that a sizeable USD/JPY buy order went through the market over the last 30 minutes.
Hedge funds have been big buyers over the last 3 sessions below 83.50 and they obviously expect the BOJ to support the pair.
