There is talk of a bullish report from a US consulting form in USD/JPY and the JPY crosses.
EUR/JPY is near session highs and USD/JPY is recovering from an overnight slide, making new highs of its own.
Probably speculation that the BOJ will join with the Fed, ECB and BOE in priming the monetary pump further…
UPDATE: Stops were tripped in the 79.15/20 area. More lie up at 79.30/40, traders report.