USD/JPY above 140, get ready for (ineffective) talking intervention out of Japan today

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USD/JPY above 140, get ready for (ineffective) talking intervention out of Japan today

<p>Yesterday we had some statements out of Japan on approach to 140:</p><ul><li><a href="https://www.forexlive.com/news/japan-chief-cabinet-secretary-says-sudden-fx-fluctuations-are-not-desirable-20220901/" target="_blank" data-article-link="true">Japan chief Cabinet secretary says sudden FX fluctuations are not desirable</a></li></ul><p>These sort of comments are trotted out from Japanese officials, from the Ministry of Finance, Bank of Japan, and government ministers, when the yen falls quickly. </p><p>The comments tend not to have too much of an impact, as you can see. USD/JPY is higher now (circa 140.20) than where it was when we had these comments yesterday (circa 139.50). </p><p>The comments will have more of an impact as USD/JPY continues to rise and positioning becomes a little more stretched, and as the statements become more strident (threats of more forceful action such as direct forex intervention, for example).</p><p>BOLO for official comments again today after USD/JPY rose once again overnight:</p>

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

Source: USD/JPY above 140, get ready for (ineffective) talking intervention out of Japan today

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