USDJPY: Bearish weekly trend needed no headlines to continueUSD/JPYOANDA:USDJPYIvanLabrieUSD/JPY broke 155 in the Monday Asia session and ran to 154.05. First trade under 155 since 23 February. That puts the pair 3.95% below the 2 September high at 160.383. The weekly target zone is in the vicinity of the 150 handle. I went looking for what caused today's drop and came up empty. A morning wrap timestamped four minutes before the break quotes the pair live at 155.50 and names nothing new. The Sunday story about Takaichi's own economic adviser pulling his rate-hike call forward from January produced a flat Asia open, then nine hours of nothing. No Japanese data prints at that hour. Every headline in the window either came before the move and failed to shift it, or came after and described it. The dollar never moved, and that is the part that matters. Across the break EUR/USD was flat to a hundredth of a percent and the dollar index did not budge, while every yen cross fell together, EUR/JPY and AUD/JPY both down around 0.9%. Gold fell half a percent on the day, so risk-off does not cover it either. One leg of every cross moved and nothing else did. It looks like a stop cascade through a round number in a holiday-thinned book. US cash bonds were shut for Labor Day, so the dollar leg could not reprice even if it had wanted to. One-sided by construction. September is close to fully priced for the Bank of Japan already, so there was nothing much left to buy in that meeting. Monday's marginal buyer was trading the path past it. The next shelf on the chart is 152.30 to 152.90, from the February lows. If a catalyst turns up timestamped before the break, this was an ordinary repricing and I am wrong. A headline published after the move does not count. Cheers, Ivan Labrie.