Talk is that the BOJ did a ring around
That's one of the stunts the BOJ can pull where they ring around the banks asking to check the prices. Reuters report that traders haven't seen any direct intervention activity.
Those nasty interbank lot would like nothing better than to jump in front of intervention ;-) What say you Mike? :-D
Aside from that it's a stark warning for USDJPY shorts of what risk you're facing now (I'm one too).
From here expect there to be a lot of nervousness but perhaps the downside to be a bit more hard work now
