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USD/JPY slides from above 160

The USD/JPY has seen some price action since the last update here. The move higher extended on Friday. The dollar reached 158.44 and closed the week at 158.33. The slightly lower opening in Asia today was then followed by another surge, which took it above 160 for the first time since 1990. The high seen was set at 160.17. However, that was followed by a more than 500 pip slide to 155.06. The dollar has rebounded since then though, but many are asking the same question this morning- was that the Bank of Japan  at work even when the Tokyo markets are closed today? The answer here, without any confirmation is almost certainly a yes. That is not the consensus of many spot traders though. There will be more to add on that  in due course. The USD/JPY is currently trading at 156.93

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