A small trade mtm trade surplus but yoy numbers were grim: -92.1% vs a 62.7% expected decline.
JPY crosses spiked higher on the data release but have settled back. EUR and GBP also surged vs USD but likewise have setlled back since.
Look for market chatter and the possibility of BoJ “checking rates” in the hours ahead and also the possibility of talking that Kampo (the Japanese postal savings system) is buying USDJPY.
