The USD/JPY remained capped at around 151.50 on Tuesday amid intervention threats from Japanese authorities.
USD/JPY trades subdued with potential intervention by Japanese authorities. Technical analysis shows 152.00 as a crucial hurdle; overcoming this could target the 153.00 level for buyers. A break below the Tenkan-Sen could lead to losses below 150.00, with the Ichimoku Cloud providing additional key points for traders. The close correlation between the US 10-year Treasury notes yield, and the major hasn’t influenced the pair’s price action, which has remained below the 152.00 mark.
How do the decisions of the Bank of Japan impact the Japanese Yen? One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners.
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