Is the Tokyo dollar-bid kicking off again?
It's just past 9 am in Tokyo and for the second day there's a substantial bid in USD/JPY. The pair is quickly 8-10 pips higher in the past few minutes.
Yesterday the bid in the pair was strong enough to turn into a broad USD bid that eventually led to a huge rally in the dollar.
Ready for Part 2?
Keep a close eye on how this develops.