Japan Finmin Suzuki: Intervened last year to respond to excessive volatility

Ross J Burland FXStreet

Further to the earlier announcements by Japan's Ministry of Finance, Japan's Finance Minister Shun'ichi Suzuki has crossed the worse and stated that the intervention last year was in response to excessive volatility.

The announcements in Tokyo have coincided with a stronger Yen:

The Yen is breaking down structures which leaves low-hanging fruit for the bears to target for the day ahead with eyes on the 132.00 area as 132.50 gets broken down.

On the 15-min chart, the bears are potentially locking in a high for the day but are yet to crack below Monday's higher low of the day around 132.39:

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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