August 2nd, 2010
Bank of Japan rumors…
jpyforexfan
Forex traders should not rule out a possible Bank of Japan intervention in the forex market, which has been rumored recently. A senior official of of Japan’s ruling party, though, said that a strong yen should be dealt with not by currency intervention but by further monetary easing. All in all, there should be caution as to holding shorts in USD/JPY for an extended period of time as an upward correction looks quite feasible.
The current daily chart:
Posted in Forex Analysis, Forex News Commentary | 1 Comment »
Tks for the info. The Japanese should make use of yen appreciation to buy up foreign assets at a lower cost.