As European markets closed this morning, all bids disappeared from USDJPY and the pair dropped back below 114.00. In its mirror-like manner, gold reflected this tumble and surged above its 100-day moving average over $1280.
As USDJPY rolled over so Bitcoin hit an airppocket at the european close...
Remeber, Japan is currently the most active market for Bitcoin, so one wonders if this is some pre-saging of a general crackdown - despite all signals pointing the other way in Japan.
If you're looking for a catalyst, good luck. Fed'd Dudley was speaking but focused on regulation with no monetary policy comments. No new headlines from Asia/Trump. It seems the closing bell in Europe is all that is needed to panic-buy Yen.
Perhaps it's just a delayed reaction to the chaos in the middle-east this weekend?