Earthquake reported in Japan, off Satsuma - Source JMA

A magnitude of 7.1 is being reported. No tsunami threat according to Reuters

Bloomberg is reporting an earthquake in Japan off Satsuma. There is no official indication of size. There are reports, however, that it is sizeable.

The earthquake is reported to have struck at 5:51:30 Japan time.

UPDATE: The earthquake is now being reported as a 7.1 magnitude according to USGS

The USDJPY is trading at 122.65 currently.

Satsuma is off the southern coast of Japan.

Update 2: There is no tsunami warning, so that's great news for Japan.