No particular news nor data to take USD/JPY down, its on approach to its circa 112.40 US time lows
Yesterday it was the BOJ actions that kicked the legs out from under it, triggering some sharp down moves as stop loss sellers triggered
- Bank of Japan cuts its purchases of JGBs today
- USD/JPY selling off - follows BOJ reducing JGB purchase amount
- 'Minor tweak' from the BOJ and the yen gain, but just wait until the real thing
- The spike in JPY today only a taste of what is to come when the BOJ removes stimulus
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Watch out for stops below the overnight low
