USD down on good US CPI data and so bets on for US interest rate cut in September. But usdjpy looks a bit overdone compared to audusd, wonder if BOJ might have put their thumb on the scales on the sly to take advantage of the move.
Re: JPY news
Posted: Thu Jul 11, 2024 10:55 pm
by ChuChu Rocket
Ogee wrote: Thu Jul 11, 2024 10:52 pm
USD down on good US CPI data and so bets on for US interest rate cut in September. But usdjpy looks a bit overdone compared to audusd, wonder if BOJ might have put their thumb on the scales on the sly to take advantage of the move.
Screenshot 2024-07-11 135122.png
They've intervened that's for sure. Cheeky buggers.
Re: JPY news
Posted: Thu Jul 11, 2024 11:02 pm
by moey_dw
Ogee wrote: Thu Jul 11, 2024 10:52 pm
USD down on good US CPI data and so bets on for US interest rate cut in September. But usdjpy looks a bit overdone compared to audusd, wonder if BOJ might have put their thumb on the scales on the sly to take advantage of the move.
Screenshot 2024-07-11 135122.png
INTERVENTION IS ON
Ogee you was onto it quickly........ I only just sat back at my desk lol
Re: JPY news
Posted: Fri Jul 12, 2024 10:26 am
by global
Does anyone know what's going on with the JPY currencies. Some of them moved about 205 pips in five minutes this evening even though there was no news related to JPY currencies on the FX Calendar.
Re: JPY news
Posted: Fri Jul 12, 2024 11:02 am
by ChuChu Rocket
global wrote: Fri Jul 12, 2024 10:26 am
Does anyone know what's going on with the JPY currencies. Some of them moved about 205 pips in five minutes this evening even though there was no news related to JPY currencies on the FX Calendar.
Hello, the Yen has been performing bad for many years so the Bank of Japan occasionally needs to step in and pump the value of the Yen up.
The last time they "intervened" was in April 2024 which you will see on the charts as large spikes.
Yesterday they had to intervene again because the Yen is performing quite bad again against all other currencies. Plus the US inflation data was released which made it convenient for the BOJ to get in there.
Don't be mistaken, this wasn't just nervous or jittery traders which caused the spikes. This is 100% a result of the BOJ, just not officially announced.
Re: JPY news
Posted: Fri Jul 12, 2024 2:57 pm
by global
ChuChu Rocket wrote: Fri Jul 12, 2024 11:02 am
Hello, the Yen has been performing bad for many years so the Bank of Japan occasionally needs to step in and pump the value of the Yen up.
The last time they "intervened" was in April 2024 which you will see on the charts as large spikes.
Chart showing BOJ intervention with Yen 12th July 2024.png
Yesterday they had to intervene again because the Yen is performing quite bad again against all other currencies. Plus the US inflation data was released which made it convenient for the BOJ to get in there.
Don't be mistaken, this wasn't just nervous or jittery traders which caused the spikes. This is 100% a result of the BOJ, just not officially announced.
Thank you very much ChuChu. I speculated that it must have been something like that and you confirmed it. Luckily, my EA doesn't trade when the price is beyond the 2.5 stdev of the 20 period weighted close price BB, so that prevented any trades from being automatically taken in all the JPY currencies.
Re: JPY news
Posted: Fri Jul 12, 2024 4:06 pm
by ChuChu Rocket
global wrote: Fri Jul 12, 2024 2:57 pm
Thank you very much ChuChu. I speculated that it must have been something like that and you confirmed it. Luckily, my EA doesn't trade when the price is beyond the 2.5 stdev of the 20 period weighted close price BB, so that prevented any trades from being automatically taken in all the JPY currencies.
That's good to hear man - clever safety measure you have in place in case of unexpected market disruptions like this. A lot of traders were pissed off about having their stops hit yesterday by this shit move, that's for sure
Re: JPY news
Posted: Fri Jul 12, 2024 4:32 pm
by boytoy
global wrote: Fri Jul 12, 2024 2:57 pm
Luckily, my EA doesn't trade when the price is beyond the 2.5 stdev of the 20 period weighted close price BB
Smart
Re: JPY news
Posted: Tue Jul 16, 2024 5:38 pm
by ChuChu Rocket
We're in a bit of a stalemate now and USDJPY is definitely back below the 34 year resistance level.
Re: JPY news
Posted: Tue Jul 16, 2024 7:59 pm
by Ogee
The Japanese Government Is Getting Desperate As The Yen Collapses
