Via Bloomberg come comments from Atsushi Hirano, head of FX sales Japan at RBS:

  • Upward momentum for dollar yen is "very strong"
  • If the U.S. economic data beats market estimate, it is possible USD/JPY will test 126 this week
  • Japanese investors helping with yen selling
  • USD/JPY volatility may rise further as option market makers should cover short positions

-

Hmmm.

We are around 124.10 as I type .... I reckon we are running out of time for 126 this week.