Well, timing is everything. While Japan was quiet most of the day as USD/JPY marched higher, intervention finally came in early US session and knocks USD/JPY back below 150. In the background, Dollar was already under some pressure as stocks rebound strongly from early loss and turn black. 10-year yield also open dips after hitting as high as 4.333 with a strong open.
Now, let’s seen if there would be some support for USD/JPY as it approaches 4 hour 55 EMA at 148.39.
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