The Yen is going mental in the wee hours in Asia. The rally started after this from DailyFX:
Japanese Govt and BoJ are discussing an accord with employment mandate according to newspaper Mainichi. Results expected at Jan 22 BoJ meet.
Actually I dont think this news matters that much for the Yen. After the epic weakening in December and early January, a rally was due. Even though many might expect the rally to last right up until January 22nd, we might have seen the top for the Yen this time around. Dangerous trade now. But also fun with some action.