Since January 2023, the USDJPY has been on an astronomic rise, driven by the significant divergence between FOMC and BoJ monetary policies.
The initial market expectation was for the BoJ to intervene when the USDJPY approaches the 155 price level.
Today the Yen has come under fresh selling pressure, as the BoJ kept rates on hold, taking the USDJPY above 156.
Could 158 at the top of the channel be the next target intervention level?
From the BoJ today
The initial market expectation was for the BoJ to intervene when the USDJPY approaches the 155 price level.
Today the Yen has come under fresh selling pressure, as the BoJ kept rates on hold, taking the USDJPY above 156.
Could 158 at the top of the channel be the next target intervention level?
From the BoJ today
- Kept rates on Hold
- No comments about an intervention
- Yen continues to weaken with USDJPY climbing above 156