USD/JPY has pushed to a new 34-year high at 155.37. The market tip-toed through 155.00 early in US trading and after a peak above, has evidently decided there’s no intervention boogey-man on the other side. That’s flashed a green light for buyers and a test of higher levels.
LDP official Takao Ochi today said there’s not yet active discussion on what yen levels would be deemed as worth intervening but said a move towards 160 or 170 could force action.
That sounds like an invitation to me.
This article was written by Adam Button at www.forexlive.com.
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