Breaking: BoJ intervention sinking USD/JPY
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USD/JPY is sinking in the Tokyo open as Japan's Ministry of Finance confirmed stealth USD/JPY intervention.
On October 21 and 24th of 2022, the Ministry of Finance conducted a stealth operation intervention. At the time, USD/JPY was soaring and made life uncomfortable for the Japanese central bank.
With the US Dollar skyrocketing on Friday's Nonfarm Payrolls and ending Monday as another green day, investors are jittery. The Yen has a habit of reacting swiftly and sharply in the Asian session as it is. Today, and around the announcement, the Yen jumped and broke through a key structure on the charts as the above technical analysis illustrates. This could lead to a first red day and as a foundation for traders to lean on a directional bias for the day ahead.
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