What could change the trend in USDJPY? ...Middle East

The Japanese MOF eventually intervened on Monday as the USDJPY exchanged rate crossed the 160.00 handle. The pair fell for 500 pips before bouncing on the 155.00 handle and some key levels as the bulls bought the dip. The problem here is that central bank intervention doesn't work unless the fundamentals change. The impact is generally short term and the market fades the move by buying/selling at even better levels. On the 4-hour chart, we can see that the 160.00 handle is now clearly the line in the sand. The pair bounced around the 155.00 handle where we had the most recent swing low level and a trendline. All else being equal, it's very likely that we will see the pair rising back into th

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What could change the trend in USDJPY? ...Middle East

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