On 4/27/16 the release of 4 separate news releases helped jump start volatility. In the order of release the news events were:
NZD Bank Rate Decision
JPY National CPI
The real mover was JPY CPI as the USD JPY pair dropped 400 pips in a few hours following the release. With recent headlines about the move higher in USD JPY it was high time for Smart Money to send the raging bulls packing. Without time to get positioned any hopes of getting on the short bus were futile. The pair dropped 300 pips in the first 5 minutes after the release. Now its back into the range for some back and forth action.