EDIT: Just catching up on forexlive and thought I'd post their update on this:
Very good selling of USD/JPY second time up Written by Jamie Coleman March 4, 2011 at 14:30 GMT
USD/JPY’s bounce to the 82.85/87 area toward 14:00 GMT was sold into heavily, traders report. Rather than slice and dice every trade into a hundred pieces, large trades were going through at one clip, a rarity in this day and age. This suggests actual human intervention rather than just artificial intelligence at work. Easier US yields are helping weigh on USD/JPY along with seasonal factors ahead of fiscal year-end in Japan… we’re now down toward 82.55. Stops are lower, around the 82.25 area, we hear.