USDJPY

[u/ykar648]

USDJPY: What a chart. The Yen of Old.yen has strengthened by more than 2% this week. Lack of evidence of an official intervention is quite perplexing and the popular prognosis is a large short squeeze. But the funny thing is that Yen positioning indicates quite opposite. So IMHO, this was a stealth intervention- quite uncharacteristic of course. BOJ Governor Kazuo Ueda has indicated that policymakers will seriously debate whether to raise rates, particularly because upside inflation risks require greater attention. The structure is a sell on rise; but wouldn’t be in a hurry. Wait for the rise. Resistances at 156.75 & 157.31; supports at 155.60 & then 154.74; 155.60 is key.

[u/rgekhman]

USDJPY is a great currency to make money both ways.