As many people have been noting, 81.80/82.00 is looming as a big level for USD/JPY and I guess the BOJ thinks so too. Normally you can’t fight the central banks but I also remember what happened to the Bank of England in 1992 when they tried to hold up GBP/DMK and got hammered. Even the SNB got badly hurt trying to hold up EUR/CHF.
I think if the BOJ gets a weekly close above 82.00 they will be very happy.
