This morning we posted a market update about how USD/JPY had surged nearly 150 pips during early European session on the back of BOJ comments. It seems like now we´re seeing the second round of JPY selling. There were comments from the BOJ that they could lend money to the second level banks with negative rates. That´s pretty much like giving money away. Now that the US session has started the US traders want some of the JPY action too so they have pushed USD/JPY another 100 pips higher. 

The second leg of the USD/JPY uptrend is taking place right now