Dan, the Yen is manipulated, not directly, but indirectly, via support by the Japanese Central Bank of the Dollar, which is accomplished by extremely heavy purchases of U.S. Treasury notes. OK, that's not "pegging", per se. It's "manipulation to maintain an unnatural exchange rate", which has sixteen syllables, so I got lazy and went with "pegging".
Hard work often pays off over time,
but laziness always pays off right now.