USD/JPY trades in it’s own particular fashion, more of a grinder rather than an explosive mover. The volumes in Asia can be quite startlingly large with billions changing hands every hour. Good sized offers around 83.70 have been worked through and now stop-loss buy orders around 83.80 have been triggered.
The EconMin Kaieda calls for the cap on BOJ’s buying of JGBs to be removed has undoubtedly helped.
Corporate offers start above 84.20 I’m told.
