Race up and race down.
The USDJPY raced higher by 40 pips moving away from the 109.00 level. It then moved sharply lower back to the "scene of the crime" around the 109.00 level. Option related? Perhaps it was. The 10 AM option expiration is now gone and we get a comment from BOJ Kuroda saying that current pace of purchases will continue for some time AND if FX appreciates, timing of hitting 2% may be delayed. Back up in the USDJPY (lower JPY).
Forex technical analysis: What was that? USDJPY on a rollercoaster ride
