Breaking: USD/JPY plunges to test 122 the figure in huge sell-off

USD/JPY has dropped a huge 120+ pips in the last hour of trade despite the Bank of Japan's intervention for a third day, and this is all rather counterintuitive. 

Moreover, the has been the worst-performing Group of 10 currency this year, and as the year-end approaches, Japanese exporters will be reporting their financial results in yen. 

More to come...