Breaking: USD/JPY plunges to test 122 the figure in huge sell-off By FXstreetNews Breaking USDJPY
has dropped a huge 120+ pips in the last hour of trade despite the Bank of Japan's intervention for a third day, and this is all rather counterintuitive.
Moreover, the yen has been the worst-performing Group of 10 currency this year, and as the year-end approaches, Japanese exporters will be reporting their financial results in yen. Traders could also be of the view that the Bank of Japan is doing whatever it can in a commitment to soften Japanese yields and prevent the 10-year JGB yield from racing beyond its upper limit.
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