There is some speculation of Bank of Japan intervention. I haven’t seen or heard anything of this and it would seem to be not the way the BOJ is operating right now.
- The BoJ recently slammed yen crosses after US data, at a time when USD/JPY was already falling
- the BoJ tends not to intervene in times of deep and thick liquidity, like now with Tokyo markets fully operating
Volumes being transacted are not larger like they would be if intervention was occurring.
But, I could be wrong!
Anyway, Yen higher:
This article was written by Eamonn Sheridan at www.forexlive.com.
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