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Rumors BOJ getting ready to intervene
I have not seen the report but traders tell me Japan’s JiJi press says that the BOJ is trying to garner support from other central banks to help in intervention in USD/JPY. They were forced to intervene alone back in August. USD/JPY has bounced to the 76.00 level. the trouble for the BOJ is the market has been waiting for weeks to bail it out… Many are long, hoping to sell an intervention bounce.
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