This market is insane. The latest move in USD/JPY has more hallmarks of intervention than the earlier one.
At the same time, I could see longs rushing out after 13 straight days of gains.
This is an insane market with moves coming from all over the place.
Update: The move has continued down to 150.00 and USD/JPY is now slightly lower on the day, giving up a 200 pip gain. The London fix is coming up as well.
