US admin manipulating the markets? Tariff news came at most impactful time

I am not normally one for the manipulation accusations, but this is doing the rounds and does seem to have some legs.

USD/JPY had a heavy seller sitting on it during overnight trade - iceberg type action circa 111.30. Sorta like there was knowledge of an imminent announcement to impact yen positive.

And liquidity in USD/JPY is not too shabby (!), making moving large amounts not overly difficult.

The news

• US is said to be about to release $200b China tariff list

hit at the worst time of the day for liquidity, sending yen crosses lower, especially AUD/JPY as I highlighted

• AUD/JPY is being punished on the latest China tariff chatter

Bidders are now soaking up the wave of sellers that hit (check out the wicks and the volume on the short-term intra day USD/JPY candles now, 5 min chart for example).

Like I said, I'm not one for the 'manipulation' chatter, but this one seems to be based on perceptive observation of market action and the character of the current US administration.

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