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  • Japan intervenes in currency market to support yen: Nikkei

Added at 12:16pm

Good for them
Let's see how long it last
Will be corrected next week
At last they did it.
Its almost 2AM in Japan. They should be sleeping...
technically, its good trading. sell dollar when its high and buy yen when its cheap.
Intervene end. It will cover up by Monday because all pairs are still in the bullish zone
Talk about manipulation. They did it on Friday. UK market is closing.
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I may be wrong but u can check........... When BoJ intervened in Sept 2022 it took about 1 month for USD/JPY to reach back to the level when intervention took place.
Their interventions are short lived...they can't afford to do this long term...market is fucking with them and will keep fucking with them, most likely.
Everyone can see the chart, but only a few can actually read it.
This time the intervention is different. UJ will test 140-141 on the downside. I somehow get a hunch that US is supporting this move.
Im rich! Im fucking rich !
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Quoting GedasGG
Its almost 2AM in Japan. They should be sleeping...
Dude.. They have banks around the world..
Get ready to see AT LEAST $131 (131-124). Everything' s going SO PERFECT!! Trading is an ART!
Quoting GedasGG
Its almost 2AM in Japan. They should be sleeping...
...along with Yen speculators of japanese nature whom will not be happy in the morning
Quoting danial57
Get ready to see AT LEAST $131 (131-124). Everything' s going SO PERFECT!! Trading is an ART!
Why?
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Quoting Vishu258
This time the intervention is different. UJ will test 140-141 on the downside. I somehow get a hunch that US is supporting this move.
What makes you think the US would actively intervene to weaken dollar? Strong dollar helps to tame inflation.
Intervene with currency exchange cant solve economic problem, and i think it will make economic more worst, bcs strong curreny by intervene way not by solving the real problem.
Quoting OnlineAddict
Their interventions are short lived...they can't afford to do this long term...market is fucking with them and will keep fucking with them, most likely.
They intervened a few weeks ago ... lasted about 2 days IIRC

This kind of intervention is pointless unless it is sustained. When the Yen was strong, and BoJ was intervening periodically, it was of little use. It was not until Shinzo Abe (r.i.p.) introduced his three arrows of economic effort ( = print lots of Yen) that the trend was reversed.

However when Abe stepped-in the Japanese balance of trade was consistently in favour of the Japanese. This time the balance of trade is against them. Ever since the Fukushima disaster (more or less) when Japan decided to switch-off most or all of its nuclear generation capacity and use gas or oil instead they have been a net energy importer.

Watch for when they restart the nukes....
Carbon-Dioxide: the gas of life!
Quoting GedasGG
Its almost 2AM in Japan. They should be sleeping...
A few years ago they enlisted Goldman Sachs to dump Yen at something like 3am Japanese time.
Carbon-Dioxide: the gas of life!
Quoting penuelophir
{quote} Why?
Because wave 4 is located at $131. We have done with wave 5 (or we will do very soon). Before the BIG wave V the cycle needs to correct itself by wave 4.
Pointless intervention!
If you're trying to fade the BoJ here on a Friday, you're risking getting run over by a 2nd wave of intervention early Monday Tokyo time, when FX liquidity is low and their limited firepower has more leverage.
They cant intervene and sleep for the weekend, it will surely be reversed
Whoever buying yen at 150 above must be happy now. Sure more coming next week
Quoting mae4206
Whoever buying yen at 150 above must be happy now. Sure more coming next week
It will comeback to this level if there is no policy change by boj and us raise rate by .75 point on 2nd Nov meeting.
Peace Yo!
Thanks BOJ for making usd cheaper by 3%....
Peace Yo!
Quoting mae4206
Whoever buying yen at 150 above must be happy now. Sure more coming next week
by the end of the next week there will be new highs
There's always the possibility BOJ will stop the peg on their 10y bonds. That would be SERIOUS.. Remember SNB and the EURCHF peg?
Quoting danial57
Get ready to see AT LEAST $131 (131-124). Everything' s going SO PERFECT!! Trading is an ART!
If the December FED rate hike is changed from 75 bps below, then you can expect it but the rate decision is still unchanged so we can see the low price USD will break the top level. For another next rally, it was required to some corrections. Where the FED rate hiked continues, there BOJ rate is decreasing to a negative rate. That is why one side move has happened. Until FED and BOJ are not change their decision, how can you expect your expected rate?
Quoting Ftmofx
{quote} If the December FED rate hike is changed from 75 bps below, then you can expect it but the rate decision is still unchanged so we can see the low price USD will break the top level. For another next rally, it was required to some corrections. Where the FED rate hiked continues, there BOJ rate is decreasing to a negative rate. That is why one side move has happened. Until FED and BOJ are not change their decision, how can you expect your expected rate?
Fundamentally you are right, but I follow charts. Charts are made by giants, big investors and governments. They already know the future news and decisions. I don't bother to predict moves by fundamentals because it is impossible for regular people like me.
Quoting bartholemew
If you're trying to fade the BoJ here on a Friday, you're risking getting run over by a 2nd wave of intervention early Monday Tokyo time, when FX liquidity is low and their limited firepower has more leverage.
Yep.
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  • Story Stats
  • Posted: Oct 21, 2022 12:16pm
  • Submitted by:
     Newsstand
    Category: High Impact Breaking News
    Comments: 32  /  Views: 9,143

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