On Thursday 11 July, the Bank of Japan (BOJ) intervened in the FX markets exactly 10 minutes after US CPI numbers were released. It is reported that the BOJ spent over 22 Billion Yen in this intervention.
If we can learn something from the previous intervention, it is that these are not sustainable and just act as a way for the BOJ to prevent the Yen from a free fall. Unless the wider G7 countries are willing to take part in a major intervention or if the Yen fundamentals change, the JPY pairs will continue to make fresh highs.
If we can learn something from the previous intervention, it is that these are not sustainable and just act as a way for the BOJ to prevent the Yen from a free fall. Unless the wider G7 countries are willing to take part in a major intervention or if the Yen fundamentals change, the JPY pairs will continue to make fresh highs.
Note
Bank of Japan Intervention Continues. Wait for price to stabilise
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.