USD/JPY wants to retest 152
I'd be very surprised if USD/JPY does not have another go at trying to break through 152 again in the coming days/weeks.
It tends to be attracted by big round numbers hence the vacillation around 150 currently.
Above 152 there isn't really much resistance until the next round number at 160.
It tends to be attracted by big round numbers hence the vacillation around 150 currently.
Above 152 there isn't really much resistance until the next round number at 160.
Question is will this hold (will BOJ/MOF) intervene to try to keep a lid on it. I suspect at this moment the verbal intervention will continue but massive physical intervention is unlikely. Historically the Japanese have tried to dampen sharp moves and volatility and have not been married to particular "levels". there is nothing "special" about 152. If anything $/Yen likes big round numbers so perhaps we shall see 160 in coming weeks/months.