USD/JPY flows: Nikkei Erased A Year's Gain

After the bloodbath on Friday, Nikkei continues to search for new lows as risk averse sentiment grasp the market after softer Friday NFP. In the first opening hours, Nikkei has dropped more than 6% and has essentially erased the gains since beginning of the year. While the move is widely triggered by global risk off sentiment, the tightening steps that is too hawkish from the BoJ cannot be neglected. 

In this sell everything market, the JPY has received some haven bids and see USD/JPY slipped 0.61% to 145.55.