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ICYMI - the new angle Japan is taking on yen intervention

2024-12-30FOREXLIVEFOREXLIVE
A big drop for USD/JPY after the US data on Thursday

ICYMI, Adam had the breaking info:

  • Japan intervened in the forex market - report
  • The new strategy appears to be to wait for help -- this time from US data -- and go with the momentum.

Going with the flow worked out well this time, its created a bit of a 'gap' now. 159-161, give or take. Recent months have shown that gaps like this hanging overhead get nibbled at. Will it be any different this time? There does seem to be a broader move into the USD, so its likely to be hard going.

Anyway, more on the intervention:

  • Japanese media (Mainichi) says it confirmed the intervention with an unnamed Japanese government official.

I've marked the gap - I think the kids call these FVGs now? Let me know in the comments what you think.

USDJPY FVG 12 July 2024 2

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