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The Yen is at multi decades low

USD
  • The EUR is seeing a small broader bid since the Cash Govie open, with the move led by the Bid into Equities, helping keep the lid on the Dollar.
  • Market participant's focus are on the Yen, just take your pick, AUDJPY has broken above 106.00, with main next upside target still further out, up to 107.873, the 2007 triple top and the highest printed level since 1991.
  • USDJPY is so far closer to its very tight mid 30 pips range, but the pair is nonetheless close to the 160.00 handle.
  • USDJPY printed a 160.17 high before the last MoF intervention, which was the highest printed level since 1986.
  • Given the just mentioned broader bid in the EUR, EURJPY is back above 171.00, printed a 171.56 high pre last intervention, which was again the highest printed level since 1992.
  • The offers going into the Dollar helps Cable to its session high, but most importantly, GBPJPY printed a 202.16 overnight, the highest printed level since 2008, now trading at 202.085.
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