It looks like the BOJ did have a hand in the USD/JPY slide

The noted slide in the USD/JPY yesterday was the dollar crumble from a 161.76 seen ahead of the US CPI data, to a low at 157.44 seen after it. There is little doubt here; that the Bank of Japan was involved in that fall in some shape or form. However, ultimate confirmation of that will have to wait until we see data from that institution in due course. The slide in the USD/JPY came as the CPI data missed on the downside and sent US yields sharply lower. So, if it was the BOJ behind the slide in the dollar, then they used the weaker US data to perfect their timing and in truth that made it more effective for sure. The USD/JPY closed in the US last night at 158.84. The price action seen earlier today was extremely volatile, after it became known the BOJ was seen checking rates with major Japanese banks. That is often an indication, that they are active in the market. However the dollar has steadied since then and recovered back above the 159 handle (high today 159.45), from an earlier session low at 157.76. I think it is safe to assume you should be braced for another volatile session again today. The USD/JPY is currently trading at 158.95