Yen-tervention continues to keep things more riveting on the week ...Middle East

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That's twice already now that they've come in to support the yen currency this week. USD/JPY saw a sharp dive from 157.50 to 153.00 before being bought back up to just below 156.00 currently. Here's a look at the near-term chart:As much as Japanese authorities are trying to push down the pair, dip buyers are holding steadfast to their conviction for the most part. Price action has been quite challenging in that regard. The clear line in the sand right now is the 160.00 level. However, Tokyo clearly can't rest on their laurels if dip buyers continue to contest for a higher move so quickly.The pair is still down roughly 150 pips from before Japan stepped in. But from the lows earlier, it is up

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Last updated : 02 May 2024 clock 07:33 AM

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Yen-tervention continues to keep things more riveting on the week ...Middle East

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