Japan comes back online after an extended weekend, with the aftermath of the JPY-intervention still reverberating through the souls of FX traders. A 562-pips high-low range in USDJPY has left its mark and whether we see further rapid-fire spikes lower intraday in the JPY pairs will be front and centre - traders need to have that possibility as the primary consideration in their positioning. The broad consensus view is the move into ¥154.54 was the MoF instructing the BoJ to intervene, although we may not officially know for sure until the end of May. However, for now, many are looking to use this strength in the JPY ... (full story)