Fundamental News - USD/JPY

USD/JPY is fading a spike to 128.48 highs after the Bank of Japan (BOJ) intervened in the bond market to defend the yield cap at 0.25% for another day.

The BOJ offered to buy unlimited 10-year Japanese government bonds (JGBs) at 0.25%, conducting consecutive unlimited fixed-rate purchases for the second day in a row.

After witnessing a volatile session on Wednesday, traders gear up for another wild ride, as the yen resumes its downtrend after the previous profit-taking rally against the dollar.