USD/JPY breaks 149.00 as the trade goes in full reverse on likely intervention

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USD/JPY breaks 149.00 as the trade goes in full reverse on likely intervention

<p>I <a href="https://www.forexlive.com/news/usdjpy-is-up-in-13-straight-days-this-cant-go-on-20221021/" target="_blank">warned </a>earlier that it was a dangerous game being long USD/JPY in the 13th straight day of gains.</p><p>Here we are. USD/JPY touched 148.98, which is nearly 300 pips off the earlier high. This clearly looks like intervention from the Japanese Ministry of Finance.</p><p>Naturally, that's also putting a squeeze on the market and we're now minutes away from the London fix, which could add to the volatility.</p><p>Update: and it's right back above 150.00. These are wild moves.</p>

                This article was written by Adam Button at forexlive.com.

Source: USD/JPY breaks 149.00 as the trade goes in full reverse on likely intervention

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