Will Japan intervene or will not they? It is undoubtedly not very best as we glance in direction of European buying and selling, the place liquidity circumstances will begin to decide up. And much more so when US merchants come into the fray later. Officers is likely to be considering to attend for the BOJ to ship a message on Friday however that’s nonetheless not less than two days away.
For now, all different main currencies aren’t doing a lot and merchants are more likely to sit on their fingers in watching what occurs subsequent with USD/JPY earlier than reacting to something. The aussie remains to be up barely from earlier, however AUD/USD stays capped for now as seen here.
It undoubtedly takes numerous guts to be in any yen commerce in the intervening time and I want you the very best of luck if you happen to’re taking that on. Personally, intervention danger is one thing somewhat an excessive amount of for my liking so I might keep sidelined. And I am certain the bulk will probably be watching as effectively to see what occurs subsequent.
I reckon we would slowly see value creep somewhat greater till touching 155.00 within the hours forward. There is likely to be profit-taking as effectively once we get to the determine degree but when there may be any overshoot, that may very well be the occasion that invitations Japan to step in. However we’ll see.
