Market update: Calm after insanity

After two insane Risk-On days in the market led by the intervention of the BoJ on Friday, therefore pushing USDJPY to new highs (up 5 figures and hit a high of 114.20 during London trading session) and taking the equity markets with him, it is time for consolidation with the Nikkei index down 500pts from highs closing below the 17,000 (16,862.47).