It’s easy to miss or even *ignore* what’s been happening in any pair that doesn’t involve the euro. However very quietly on a small corner of your screen, the USD/JPY has broken lower through the previous lows. Lows that most traders were hesitant to test because it was the area in which BOJ intervention was expected. No news or action from Noda, yet… The safer position from both a fundamental and technical standpoint is the buy and this is due to the hesitancy market participants will have in testing where the Bank of Japan’s tolerance is. The idea that Noda and Azumi are closely watching the yen’s strength as the ... (full story)