Trade the lender of Japan Intervention PlansPosted by Bynum Haastrup on June 1st, 2021 The Bank of Japan managed to get clear that it is ready to intervene in the markets in order to curb the Yen strength. This can translate into a trading chance of the USDJPY when in conjunction with Technical Analysis. THE LENDER of Japan Intervention was one of the most interesting events in the currency markets over the last few weeks. THE LENDER of Japan implied that they can intervene (sell the JPY) if the price starts to fall below 85.00. The cost of USDJPY is around that area now, so if it makes another down leg then your BOJ could potentially intervene again. This should cause the price to create a dramatic rise. The BOJ intervened so that you can respond to concerns concerning the yen's rise. The intervention took place on last Wednesday for the very first time in six years to knock the currency lower. Bank of Japan money market data indicated that the yen-selling could have amounted to1.86 trillion yen. It is a record amount that proven to the market that the Bank of Japan means business. This should definitely impact on the market's expectations concerning the Yen. get more info is hurting Japan's exports, which will be the main driver of japan economy. From a technical perspective, the pair has posted a pullback and is now trading around an integral support level denoted by Support S1 around the 84/84.50 area. Trade Signals is a buyer around these areas targeting the Resistance R1 area, round the 88.00 area.Like it? Share it! More by this author |