USD/JPY (US Dollar vs. Japanese Yen ) after hours – Why the drop?

USD/JPY (US Dollar vs. Japanese Yen ) after hours – Why the drop?

What happened to the YEN after hours tonight? 

update as of 8:25pmEST on March 16, 2011 it was back up to $79.25  from $76.35 ( insane move afterhours on Yen tonight) 

                                         

USD ( US Dollars )                                                            Japanese Yen 

 

here's 2charts on USDJPY chart afterhours tonight on March 16th ( top chart is a 5 min chart – the bottom is a daily chart)

As of typing this had dropped into $76.50's range and bounced back to $77.50's

but a major drop in 15 minutes

There was some news today that i posted on twitter : 

RT @cnnbrk: Yen soars vs. dollar on prospect of cash flowing into#Japan after #quake http://on.cnn.com/dPvSAy $USDJPY now $80.04

 

WORLD FOREX: Dollar Hits Lowest Ever Vs Yen On Japan Nuclear Fears

 

Stockguy22

 

 

Posted in Commentary, Currencies