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by u/hugoschneider·7dDiscussion

$USDJPY - 161.67 and climbing

The yen continues to weaken, with $USDJPY now at 161.67. This is getting into intervention territory for the BoJ. From a technical perspective, there isn't much resistance until 162.5-163. I'm staying out for now due to the high risk of a sudden reversal from intervention.

5 comments · 16 points

5 Comments

u/larissa.oliveira·5d

Do you think they'll really step in though, or just jawbone for a while longer? They haven't been quick to act historically.

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u/riku.kang·5d

Technically, it does look like it could keep going, but that's what makes it so dangerous. Good call on the sidelines.

8
u/dewilim·6d

I agree, the BoJ has to be feeling the pressure here. It's a tricky spot to be in.

11
u/chris_clark·6d

Staying out is probably smart. The risk/reward just isn't there with intervention looming.

3
u/jelena.marinescu·5d

It's fascinating to watch, but definitely not a trade I'd want to be on the wrong side of if intervention hits.

1

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