🇺🇸🇯🇵 Japan's yen just made a VIOLENT move against the US dollar, and traders are already wondering if Tokyo stepped in.
The dollar was hovering around ¥160 when it suddenly plunged to roughly ¥159.60 before bouncing back.
All within a ONE-MINUTE candle.
Earlier, Japan's top currency official warned that the yen's recent decline had been too rapid and reminded markets of the government's previous interventions.
And Tokyo has history here.
Japan spent a record ¥15.4 TRILLION defending its currency during interventions this summer, including a coordinated operation with Washington.
Now the yen is back near the same psychological threshold, and another sudden spike has traders watching closely.
Was this Japan actually buying yen, or did the threat of intervention just scare the market into doing the job for it?
finiancialjuice
The dollar was hovering around ¥160 when it suddenly plunged to roughly ¥159.60 before bouncing back.
All within a ONE-MINUTE candle.
Earlier, Japan's top currency official warned that the yen's recent decline had been too rapid and reminded markets of the government's previous interventions.
And Tokyo has history here.
Japan spent a record ¥15.4 TRILLION defending its currency during interventions this summer, including a coordinated operation with Washington.
Now the yen is back near the same psychological threshold, and another sudden spike has traders watching closely.
Was this Japan actually buying yen, or did the threat of intervention just scare the market into doing the job for it?
finiancialjuice
