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Nov 11 - 07:55 AM

USD/JPY - Very Likely USD/JPY Drop Is Due To More Intervention

By Jeremy Boulton  —  Nov 11 - 05:45 AM
  • 40 minute spell saw USD/JPY drop 141.45-140.51

  • Following 34 minute spell pairs down 140.65-139.10

  • 13 mins to drop 139.59-138.76

  • Big movement with little obvious reason and no big movement elsewhere

  • GBP hasn't moved and EUR/USD very little changed, it's not a USD move

  • No data, or news to trigger the sell-off

  • No movement in interest rate markets warrants a drop of this extent

  • USD/JPY is extremely oversold on daily chart, base 20-day Bollingers 141.67




Source:
Refinitiv IFR Research/Market Commentary

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