I never believe the rumors but chatter that some Japanese semi-official entity is on the bid in USD/JPY are wearing me down.

The S&P 500 continues to fall, now down almost 1% to 1861 and yet USD/JPY is higher than it was when I strolled in this morning (spot at 102.14). The minutes are ticking down on the week and all we can do is pray that next week is a bit more tradable because the yen crosses aren’t going to crack this week.