So this happened on the USDJPY overnight
The USDJPY crept over the 150 price level before crashing down almost 300 pips to retest the 22nd September swing low and 61.8% Fibonacci retracement level at the 147.40 price level.
Eventually, the price settled along the 149 price level and back within the bullish channel.
The 150 price level is significant as it was likely the BoJ's price level for an intervention. This move could be viewed as the first stealth intervention as the Ministry of Finance did not confirm the intervention.
Is this going to be a repeat of the series of BoJ interventions we saw in October 2022?
Eventually, the price settled along the 149 price level and back within the bullish channel.
The 150 price level is significant as it was likely the BoJ's price level for an intervention. This move could be viewed as the first stealth intervention as the Ministry of Finance did not confirm the intervention.
Is this going to be a repeat of the series of BoJ interventions we saw in October 2022?
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