The lack of JPY-positive announcements at Tuesday’s BoJ meeting opened the door to a sizeable move in USDJPY. It bounced off the lower boundary of its medium-term upward trending channel and now trades comfortably above the 150 threshold. The pair is recording a red candle session today as the market is on the lookout for an actual intervention from the Japanese authorities. In the meantime, the momentum indicators remain mixed. The Average Directional Movement Index (ADX) is stuck below its 25 threshold and thus pointing to a trendless market. On the flip side, the RSI has almost completed three months above its ... (full story)