As Sam has mentioned below, there are a number of major enquiries happening into what exactly went on in USD/ZAR and ZAR/JPY earlier this morning. The moves were very violent and seemingly triggered when a price which was way out of the market was hit (or mis-hit) and this caused a lot of stops to go off in very thin Monday morning markets. Now many of these stops are being re-instated and hence the recovery in the JPY crosses. A right royal mess I believe and we probably haven’t heard the last of it.