Japan top currency diplomat Kanda: I am seriously concerned about the recent rapid weakness in the yen

The BOJ is actually collecting - buying - huge amounts of yen -> sudden drops at XXX/JPY pairs. They cannot do it in one contract, because it would influence the price too much and they would become their own victims, therefore retail traders are constantly forced to sell yen - while they forcing the yen bulls to take out their positions -> they let the market to make new high after these sudden drops. When they manage to accumulate enough yen, they suddenly sell all their currencies against the yen, starting a yen bullrun. This has to be orchestrated among all yen crosspair and in all trading sessions.

Don't talk Kanda .... It will make YEN more damage

Hahahaha.... I am seriously concerned also.... But I will keep buying UJ....

This is no longer like a financial market, but a casino market!

Top currency diplomat don't know the situation! What's his work? Just bullshit BOJ

Finally, at last, he is SERIOUSLY concerned. Not just concerned. At 170 he will be TREMENDOUSLY concerned. At 180 he will be CRITICALLY concerned. And at 190 he will be VICIOUSLY concerned.

Seriously old farts need to step out of their positions, not just the reason of the currency but as a whole

The BOJ defending 160

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Haha. Well stated. Folks here like to complain....but I would be interested to see how many of them have positions on (and of what size) to justify their commentary. Such is the way though: loudest voices are often the most insignificant participants.

If the pessimists care to disclose their 200+ contract long /6j position with us, then I'll at least be less critical of the negative commentary because I know it is coming from a place of sizable frustration. Otherwise, rewind 5 years before 1990 and you'll see the USD/JPY pair at 260 in 1985.....so 161 today vs the 101 lows of 2021 doesn't seem THAT bad, does it? (from a % perspective, yes, but from a $$ perspective?, not as bad)

The problem with the yen is, there is just no justify anymore for a stronger yen. And the market knows that. The only one who is supporting the yen is the BOJ selling US-Dollars against USD/JPY. BOJ is in a huge trap for years already. Now the trap is closing. What I mean by that is their extreme low interest rates. They cannot raise them, else JPY is bankrupt - to their own people - funny enough.

This way or the other it will end in a desaster. The market is not able to make a short squeeze till 170 (some here dream of that). Too much speculation already against the yen. But BOJ is also too weak to push it down more than 300 pips. They already spended 60 billion usdollars this year on intervention. You can see if they do so... if you are good in trading you can exploit that. Every professional is doing that. They are not good enough to hide their intervention.

What I can also see is, that someone, may be BOJ, is using market technique to let the yen look healthy in the uptrend. If BOJ is doing that they are even more retarded (sorry) than it looks like currently.

What I mean by that are the spikes down on USD/JPY recovering extremely fast. In my opinion only Central banks can make such a huge drop out of nowhere. That is really stupid if they do so.

Sooner or later big billionairs in JPY have to spend their money to government. It will probably really happen - to avoid a complete breakdown of JPY economy to easing the governments depths to be able to raise the interest rates. that's the only way out for the government.

You know Kanda... No one cares you anymore

People are calling their bluff, it worked every time pretty much hahah, even that intervention a few months ago did nothing.

What makes any of you think BOJ's interventions have been ineffective? They spend a small fraction of their dollar reserves on it, they short UJ fast and furiously and then unwind slowly and gradually, for a hefty profit - and then end up with more dollars than they had when they started. They are the most powerful contrarian trader of the pair out there - but hey, go ahead and ridicule the guy's hair (or lack thereof)

At 200 he'll s**t in his pants!

Kaneda tell me what you see


Kaneda tell me what you see !!

1985 will never come back, just like usd/jpy at 260 will never come back because the conditions will not be the same.

Switzerland will also never lose 0:10 in ice hockey again because the conditions have changed

How do you know? You have a special crystal ball that dictates that ?

Bloodbath coming

The turnaround occurs when every yen cross pair is at a new annual high and the media is only talking about it. About now. Pump and dump. Time will tell.

Solution is easy. Fire ueda and all boj members immediately

I am surprised that melon head is still awake, if this was happening in Europe, there would be riots and all those BOJ members would be on a stake.

Me too. But you ain't do anything. Cowards

Junk currency

Kanda talks threats and UJ makes a new high! Hilarious.

Decade of money printing "abenomics" . Now you are surprised ?

Everyone in position like this should or better to say MUST hold their own personal earning only in the asset for which they responsible are. This should be a basic law at very basic level of the financial markets.

Story for the gods...

It was like a fart))

All bark and no bite

I think we have seen the top now

Why should the yen have any strength while the interest rate is 0.1%. Big interest differential vs other currencies

Patience. The Yen short squeeze is coming soon. Dont underestimate these mofos

All jpy pairs are going higher now. No sign of any intervention yet.