After a quiet 95.35/55 range fro many hours, USD/JPY got a boost into the 15:00 GMT fixing and continues after in its aftermath. Prices have reached 95.89 thus far, an area where Japanese exporter offers were rumored late last week. Offers are expected through the 96.00 area.
Firmer US equities, commodities, etc are boosting the reflation trade and caught USD/JPY shorts in the process. The trendline support at 95.17 has been given added validity by the nice bounce from that level today.
