If you told me that at the start of the week I might have guessed it was the Fed that did QE, not the BOJ. Here is weekly currency performance relative to the US dollar:
The best trade from the weekly open until now was a USD/JPY short. On the weekly chart, however, the pair remained within the prior week’s range.
A break of 80.30 would be bearish but upcoming Golden week holidays in Japan may make for volatile trading.
