Some news from Japan..
Okay.. so this means we should have another intervention. They will not change interest rates, but will be forced to intervene again and again from the looks of it.
Current client sentiment: overwhelming majority of traders net short on Yen pairs (USD/JPY 80% net short, EUR/JPY 75% net short, GBP/JPY 75% net short etc..)
BoJ intervened when USD/JPY was trading at 145 which means this price is already too much to handle.
Will BoJ let USD/JPY to reach 150, 155? HIGHLY doubt it. Then intervention wouldn't make much sense since it wouldn't do anything really. They would get the price to what, at best 145? The same price they already cannot tolerate?
Intervention will come very soon if USD continues to appreciate this much day after day I can bet you that.
1M candle that did 120 pips yesterday on USD/JPY...
Makes you wonder if we'll witness flash crash on Yen pairs..
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Japan’s FinMin Suzuki: Commitments to FX to Be Reaffirmed, G20 Shared Understanding Over Currency Volatility
BoJ’s Gov Kuroda: Increase in Inflation and Monetary Policy Was Discussed, BoJ Will Continue Monetary Easing
Have Explained About Japan’s Intervention - Have Been Able to Gain US Understanding on Intervention
Want to Take Appropriate Action vs Excess FX Volatility, When Asked Whether Japan Could Intervene to Prop Up Yen
Watching Forex With High Sense of Urgency
BoJ Should Support Japan’s Economic Recovery
Can’t Allow Speculative, Excessive FX Moves
Have Not Had Bilateral Meeting With Yellen
Japan MoF Official: There Will Be Cases Where We Will Disclose, or Won’t Disclose, Whether We Intervened, When Asked Whether Yen’s Jump vs Dollar Rise Today Was Due to Intervention
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Australian Dollar Clings on After US CPI, Be Wary of USD/JPY Intervention as Yen Falls - DailyFX
Japan Keeps Up Warnings, Declines to Say if Intervened in Yen - Bloomberg
The BoJ Supposedly Used 15 Percent Of Its FX Reserves On The Last Intervention
Price To Watch ~147.7
Okay.. so this means we should have another intervention. They will not change interest rates, but will be forced to intervene again and again from the looks of it.
Current client sentiment: overwhelming majority of traders net short on Yen pairs (USD/JPY 80% net short, EUR/JPY 75% net short, GBP/JPY 75% net short etc..)
BoJ intervened when USD/JPY was trading at 145 which means this price is already too much to handle.
Will BoJ let USD/JPY to reach 150, 155? HIGHLY doubt it. Then intervention wouldn't make much sense since it wouldn't do anything really. They would get the price to what, at best 145? The same price they already cannot tolerate?
Intervention will come very soon if USD continues to appreciate this much day after day I can bet you that.
1M candle that did 120 pips yesterday on USD/JPY...
Makes you wonder if we'll witness flash crash on Yen pairs..
-------------------------------------------------------------------------------------------------------------------------------------
Japan’s FinMin Suzuki: Commitments to FX to Be Reaffirmed, G20 Shared Understanding Over Currency Volatility
BoJ’s Gov Kuroda: Increase in Inflation and Monetary Policy Was Discussed, BoJ Will Continue Monetary Easing
Have Explained About Japan’s Intervention - Have Been Able to Gain US Understanding on Intervention
Want to Take Appropriate Action vs Excess FX Volatility, When Asked Whether Japan Could Intervene to Prop Up Yen
Watching Forex With High Sense of Urgency
BoJ Should Support Japan’s Economic Recovery
Can’t Allow Speculative, Excessive FX Moves
Have Not Had Bilateral Meeting With Yellen
Japan MoF Official: There Will Be Cases Where We Will Disclose, or Won’t Disclose, Whether We Intervened, When Asked Whether Yen’s Jump vs Dollar Rise Today Was Due to Intervention
-----------------------------------------------------------------------------------------------------------------------------------
Australian Dollar Clings on After US CPI, Be Wary of USD/JPY Intervention as Yen Falls - DailyFX
Japan Keeps Up Warnings, Declines to Say if Intervened in Yen - Bloomberg
The BoJ Supposedly Used 15 Percent Of Its FX Reserves On The Last Intervention
Price To Watch ~147.7
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