USD/JPY fades earlier dip as Japan officials only deliver verbal warning

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USD/JPY fades earlier dip as Japan officials only deliver verbal warning

Kanda may deny that the meeting today was meant to serve as a verbal intervention against yen weakening but we have seen countless times in the past that it is certainly part of the agenda. With USD/JPY having threatened to run away earlier today, it was definitely a timely reminder by Japanese officials.

In any case, as mentioned during the announcement in the hours before, this isn't one where Japan will draw a hard line on the yen yet. In fact, we're probably quite far from it - at least according to my 'guesstimations'.

USD/JPY has moved back higher as buyers are fading the earlier dip, in a push to 140.60 levels now. As long as price holds above 140.00, they will stay poised to continue with the breakout move towards 142.00 next.

                This article was written by Justin Low at www.forexlive.com.

Source: USD/JPY fades earlier dip as Japan officials only deliver verbal warning

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