• Some speculation of possible BOJ rate checks but still seen unlikely

• USD/JPY slump to 160.49 more likely on market nervousness over possibility

• Asia retracement high early 161.52 EBS, USD/JPY heavy and off since

• Thin conditions on US holiday seen by many as perfect timing for FX action

• Of course this on assumption Japan's MOF wants USD lower, punish speculators

• As was case yesterday, sales again more likely on algos, long liquidation

• Could be foreign investors hedging Japan stock buys taking off hedges too

• Nikkei off earlier today to 67,609.49 before bouncing to 69,788.03

• Nikkei closed TSE trading today at 69,744.07

• Market likely to remain nervous into London/European trading

• Related comment , also ,
USD/JPY daily:


USD/JPY hourly:


Nikkei 225 daily:

(Haruya Ida is a Reuters market analyst. The views expressed are his own)