Traders who bought earlier today in expectation of something significant happening in USD/JPY are being stopped out, driving USD/JPY to a low of 84.73 so far.
Just to reiterate what we were hearing earlier in the day, big bids are expected from hedge funds between 84.30/50 and dealers expect the BoJ to enter the market at or around 84.00.
If you’re relatively new to FX my advice is not to trade in markets where intervention is happening.
