That little bit of euphoria for the patient USD/JPY traders out there has evaporated as the pair tumbles into the European open to lows of 78.25.
Talk is that the stops down through 78.20 are ‘massive’ but i would expect to see some chunky bids just below as well from the semi-officials (Kampo), as well as the usual breast beating words from MOF/BOJ officials if this move continues…
USD’s sitting around 78.28
