The BOJ has not been intervening of late, but its proxy, Kampo, which handles overseas investment for the postal savings system, has been said to have been a buyer in the 76.50 area for the last few weeks. We tested that level a short while ago as “risk-off” come back into the market. JPY is strong against most of the crosses this morning.
Expect stops in the 76.40/45 area. A break opens the way to the 75.55 level. off which the BOJ intervened back in October.