What now after BOJ bursts yen bears bubbles?
The first thing I’ve done is buy it at 108.05 with a stop just under 107.60.
USDJPY daily chart
Technically the reason is pretty obvious. Secondly, that’s a hell of a move just over the BOJ sitting on their hands. It confirms that the market got far too expectant into this one and that’s why the pair didn’t fall too much on the FOMC. It looks like both Fed and BOJ longs have now jumped ship.