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USDJPY Explodes 500 Pips From Monday Lows

Wondering why the world's risk assets are all exploding higher... wonder no more. JPY - funding currency of choice for many leveraged traders - has been monkey-hammered 500 pips lower against the USD in the last few days with the last 24 hours, since Kuroda unleashed his comedy gold last night, seeing another 150 pips surge...

 

Interesting retracement levels... from the post-FOMC peak to Monday crash lows...

 

Charts: Bloomberg