USD/JPY higher

Usually when the Noda make some sort of comment or speech regards to the Yen strength. The price will spike for short amount of time, than resume is normal trend. Of course this not true if he actually intervention the market.

If this move was due to to Nikkei opening lower, why did the spike happen at 11 minutes past the hour?

I agree that there is no safe haven currency. But still, some currencies are more equal than others.

noda lloks like the boy who cries wolf.

Happens quite often recently indeed. Esp since last BoJ intervention. I am keeping my TP as low as possible at night. So I can get some profit from such pikes. This one was slightly too short so, my lowest tp being at 77. Last BoJ intervention was a failure. So I am quite sure they are preparing next one well. (SNB did apparently much better those last days than it did previously. BoJ should be able to do the same! Japanese economy's fundamental is not that good(!) that ppl should stuck to JPY at any price, even there have not been a lot of safe alternatives recently)

$JPY drop seems to be following decline in Japanese bond yields. 10yr JGB yield hit is annual low, 5yr JGB yield at lowest since nov5, 2010 - source FXCM

As I see currently there are no safe haven currency anymore... ppl who short USD/JPY is just merely they still though yen is still safe haven... Japan have more serious debt problem than US.

If im not mistaken... japan debt vs gbp ratio is more serious than US..
As for current USD/JPY price 76.50... the movement is so small for yen and the most it can go is down to 0.00 which are only 7000pips +...

I advise, for those who seek safe haven investment just buy gold... there is no intervention.. no politic play... no debt problem...

i thought BOJ go for intervention today...

http://news.ninemsn.com.au/article.aspx?id=8287560

initially thought to BOJ intervention, then calmly analyzing (it took 5 minutes) I realized that, as often happens, it's just speculation

Always remember: money never sleeps...