USD/JPY flows: A vibrant start

2025 began with vibrant start in USD/JPY despite Japanese holiday. While thin liquidity may have exacerbated the move, USD/JPY jumped from session low to high 157 before rotating lower to 157.05 now, down 0.16% for the session.

There is no fresh catalyst for the move and seems to be driven by repositioning after the Christmas holidays for some market participants.