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 ONOgee 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
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.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.
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.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.
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 sureglobal 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.
Re: JPY newsSmartglobal 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
We keep pushing the limits! 