Yen players are "gunning for 147" in USD/JPY

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Yen players are "gunning for 147" in USD/JPY

<p>Remarks from analysts at Bank of America in Tokyo. Saying that with the mere jawboning from Japanese currency authorities and the lack of any concrete action:</p><ul><li>"Market players have become emboldened because they didn't see any action [by the currency authorities] in response to the breach of key ... levels," </li><li>"They now reckon that the authorities have a wider tolerance range than they previously thought. They are now gunning for 147" </li></ul><p>---</p><p>Earlier post on that 147 target:</p><ul><li><a href="https://www.forexlive.com/centralbank/usdjpy-14766-is-the-natural-target-deutsche-bank-20220908/" target="_blank" data-article-link="true">USD/JPY: "147.66 ... is the natural target" (Deutsche Bank)</a></li></ul><p>Bank of Japan Governor Kuroda was wheeled out on Friday:</p><ul class="text-align-start vertical-align-baseline"><li><a href="https://www.forexlive.com/news/usdjpy-falls-further-on-the-day-amid-softer-dollar-kuroda-jawboning-20220909/" class="article-link article-link">USD/JPY falls further on the day amid softer dollar, Kuroda jawboning</a></li></ul><p>USD/JPY was capped ahead of 145 last week:</p><ul><li><a href="https://www.forexlive.com/news/knock-out-options-145-in-usdjpy-defensive-sellers-ahead-the-level-20220908/" target="_blank" data-article-link="true">Knock out options 145 in USD/JPY - defensive sellers ahead the level</a></li></ul><p>, </p>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: Yen players are "gunning for 147" in USD/JPY

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