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USD/JPY whacked again

Since the last update here noting the rise above 200 in the GBP/JPY, that has now fallen back sharply once again and that move has been driven by a corresponding slide in the USD/JPY a moment ago. The USD/JPY was edging back to around 157.25 and it looks like someone big just stepped in, to remind the markets about two-way risk once more. The USD/JPY is now falling below 155.50 and the price action once again suggests this could be the BOJ. The risk of a deeper fall below 155 looks like at this moment in time, but we shall see if that plays out. The USD/JPY just fell to a low at 155.30. It is right now trading at 155.65

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