There is a lot of volatility seen in the USDJPY over the last few minutes.
The high price reached 157.19, which was just short of a slain level going back to the intervention period at 157.23. The subsequent tumble took the price down to 156.53, which was just above the low for the day at 156.22.
The price has since rocketed back to the upside in trades back above the 157 level at 157.06 currently. A move above 157.23 would open the door for further upside momentum with 157.989. That is near the high price going back to May 1.
There is lots of up-and-down volatility
This article was written by Greg Michalowski at www.forexlive.com. Source