It was a big Tuesday for USD/JPY during US time:
USD/JPY smashed lower in sign of intervention
Japan senior MOF official asked about intervention: No comment
No comment? LOL:
The spread between US and Japanese yields widened even further during the session on Tuesday. The huge favourable spread for the USD has not changed at all. Dip buyers will be about today.
This article was written by Eamonn Sheridan at www.forexlive.com. Source