Forex Flash: USD/JPY stays contained - UBS

FXstreet.com (Córdoba) - Wednesday was an extremely interesting day for Japan, says the UBS analyst team as JGB yields have suddenly risen. "The yield of two and five year bonds was suddenly twice as high as the week before and trading on JGB's had to be suspended temporarily", they comment.

"USDJPY and other JPY-crosses rallied on the back of the move. Markets calmed down after verbal interventions by Finance Minister Aso and BoJ Governor Kuroda", UBS notes. "USDJPY stayed clear of the critical resistances at 100 and 101.5. 100 might be tested, but 101.5 should hold".