The Bank of Japan has been intervening in the markets which has seen the yen depreciate significantly this month. 

On Wednesday, they have announced that they offer to buy 600B yen in 3-5 yr JGBs and 725B yen in 5-10 yr JGBs.

This follows a number of days of heavier intervention in the central bank's quest to defend a key yield cap by offering to buy unlimited amounts of 10-year government bonds.

Its ultra-loose policy sent the yen skyrocketing to 125.10 on Tuesday, its highest level since 2015. Today, the price is a touch higher again by 0.24% and popping gin the last hour as the BoJ continues to show its hand.