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  • Japanese Yen remains stable possibly due to intervention by Japanese authorities

    From fxstreet.com

    The Japanese Yen (JPY) holds its position, possibly due to intervention in the foreign exchange market by the Japanese authorities. Japan's top currency diplomat, Masato Kanda, stated on Monday that he would take appropriate measures if there were excessive movements in the foreign exchange market. Kanda cautioned against the negative economic effects of such movements and emphasized his readiness to intervene around the clock if necessary, per Reuters. The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, edges higher due to the Federal Reserve (Fed) officials ... (full story)

  •  Guest
  • | IP XX.XX.0.116
no intervention done yet. They are just scaring yen sellers, that's all. How long are they going to keep on with this drama? It is sickening.
I think the inference that an intervention took place this evening is misleading. Volume doesn't even exist to show large blocks of trades let alone governmental intervention. Credibility diminished for sure among those who are reading the headline.

....at second read, it is just the ff headline ("Japanese Yen remains stable possibly due to intervention by Japanese authorities") that misrepresents the actual content of the article (which states: "possibly due to VERBAL intervention..."). That is a high difference.
I thought this headline came from CNN...but now seing that people at fxstreet have no clue about charts, trading or interventions.
Everyone can see the chart, but only a few can actually read it.
From1toMillion EA All Time Return: 1,243.6%
Ah, haha fxstreet updated their article after posting (so we can't blame ff for everything here)...."This story was corrected on June 24 at 03:40 GMT to say "verbal intervention by the Japanese authorities" in the first paragraph, not just intervention.)"


I do think they need to also update the article as they have a mistake in their own table description at the end of the article. Unless I am misreading the example, which is entirely possible given the hour, the JPY is shown as being UP vs. nearly every currency. I am fairly confident this is just backwards. Oh well, proofreading publications isn't that important.......right??
Anyone has a picture of the BOJ FX trading desks by any chance?...hahaha
Lol
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GT 786110 All Time Pips: 11,488
they did intervene 6 hours back and drop was more than 100 pips
Trading since 2008 - Quality, Integrity, and Verified Results
GT 786110 All Time Pips: 11,488
  •  Guest
  • | IP XXX.XX.192.182
I am surprised by BOJ's lack of activity. If they are willing to commit a significant amount of treasuries (eg US$500m) ahead of the BRICS abandonment of USD, they will make a killing in the market. Somehow, they are holding back their nuclear weapon of a rapid height on JPY yields. Let's see how they enable their tools to their max advantage. This will create a massive butterfly effect across the entire globe.
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  • | IP X.XXX.227.73
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  • Story Stats
  • Posted: Jun 23, 2024 11:37pm
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 8  /  Views: 4,117

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