The decline in USD/JPY has been quite relentless recently and it has picked up pace in the last few days. The price reached a two-year low yesterday afternoon at 1.0767. The traders were getting confused because fundamentally there´s no reason whatsoever for this decline and technical analysis doesn't support it either. The BOJ are clearly watching but no intervention yet. It has moved up 150 pips from the lows since yesterday afternoon but that doesn´t confirm that a bottom is in place yet. We´ll have to wait and see how it will unfold. 

The bulls have put a fight in the last few sessions but is it enough to start a reversal?