Some notes:

  1. USD/JPY and yen crosses are seeing much less liquidity today than normal.
  2. The orderboard, too, is thinner than normal

Both of these issues should improve with the passage of time, but for now the yen FX market is very skittish.

What is on the orderboard (but, note again, amounts are reduced compared to normal):

USD/JPY

  • Sellers 118.75 then 119.00, amounts are small, but building, as we have already sliced through these levels on the way down this morning
  • Buyers 117.75 then 117.50 and 117.00

Currently 118.12

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Chart of the morning so fa

usdyen chart 15 December 2014

r from the very early New Zealand time: