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  • Japanese FX Intervention Fails Again As Yen Plunge Continues

    From zerohedge.com

    The Japanese Yen appears to be inexorably drawn to the Maginot Line of 150/USD as for the third time in less than a month, Japan's 'yentervention' failed overnight. As we detailed before the Asian open last night, Japanese Prime Minister Fumio Kishida stepped up the rhetoric against the weakening yen, daring traders to test him with threats of policy maker willingness to step into markets. They did test him... and it appears pretty clear than Tokyo stepped in (though not admitted)... and then the yen kept tumbling further... chart That is strike 3 for yentervention. Strike 2 was just last week... chart And Strike ... (full story)

  •  Guest
  • | IP XXXX:c6ce:6a07
LOL that sorry attempt was them intervening??? Weak.
  •  Guest
  • | IP XXXX:c91b:3070
Well looks like its on its way to 150. Thanks for the intervention!
Japan will go bankrupt trying to intervene and it won't even help. Market only exposed how fragile the japanese economy and BoJ really are.
Everyone can see the chart, but only a few can actually read it.
I was able to scalp a small profit off that move on the way down.
Quoting OnlineAddict
Japan will go bankrupt trying to intervene and it won't even help. Market only exposed how fragile the japanese economy and BoJ really are.

Very Correct.
I completely disagree. Japan, as the world's largest holder of US bonds, is able to destroy the dollar completely in one day. Turning it into plain paper with no value. Maybe it doesn't mean he wants to, and that's a big difference.
  •  Guest
  • | IP XX.XX.120.150
looks like after each intervention, more long orders are getting triggered than the stops - to make it effective, BoJ must do couple of interventions in quick succession - this will scare away the speculators.
Japan sits on over 1.2 trillion USD, they can spare a bit to buy back cheap JPY..
Just for comparison - Soros broke Bank of England with $10 Billion.
  •  Guest
  • | IP XXX.XXX.78.110
History proved BOJ can have big impact on the market. Also have seen the FED joining BOJ to buy the yen.
  •  Guest
  • | IP XX.XXX.102.10
Those who think that the Bank of Japan "failed" make me laugh haha. The BOJ proved last September that they were easily able to recover 5 yen with just 19 billion dollars. Imagine what would happen if the bank used 100 billion in succession, or even more. Given its foreign exchange reserve, it wouldn't be much for the BOJ. The small interventions of the last few days are simply warnings. If traders Keep playing with fire and the BOJ nerves, they will get burned, believe me.
Quoting OnlineAddict
Japan will go bankrupt trying to intervene and it won't even help. Market only exposed how fragile the japanese economy and BoJ really are.
Japan is not small company lol
Peg your yen at 130, kill all the stubbon monkeys, need to teach them a lesson
  • New Comment
  •  Guest
  • | IP XX.XXX.101.84
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  • Story Stats
  • Posted: Oct 18, 2022 11:04am
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 11  /  Views: 2,574

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