I see no news, anyone know what that big shock to the market was?
“BOJ’s Kuroda says FX rates not a target of monetary policy.” – There’s your news.
Besides, it was expected to happen.
GBP has been on an unstoppable upswing since April 4. GBP/JPY has been going up from around the 140 levels to 152… So a “correction” of some sort was bound to happen.
The same applies to the other Yen trades too including USD/JPY and EUR/JPY (I mostly watch the GBP/JPY).