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If FX traders liked USD/JPY at 150 they're gonna love it at 149!

Eamonn Sheridan
03/10/2023 | 22:21 GMT

It was a big Tuesday for USD/JPY during US time:

USD/JPY smashed lower in sign of intervention

Japan senior MOF official asked about intervention: No comment

No comment? LOL:

usdyen chart intervention 04 October 2023

The spread between US and Japanese yields widened even further during the session on Tuesday. The huge favourable spread for the USD has not changed at all. Dip buyers will be about today.

Intervention in USD/JPY is up against this huge disparity and will have to be repeated if prolonged impact is desired.

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