Will the BoJ intervene...
The USDJPY trades with choppy price action between the 145 and 146 price range.
With increasing comments about the weakness of the Yen and the possible invention from the BoJ, the longer the USDJPY stays at this price level, the higher chance we are likely to see an intervention.
However, we cannot rule out a continuation of the upside, especially if the DXY recovers in strength.
I would avoid further trades to the upside, and wait for possible counter trend reversal. But speculative counter-trends setups have a higher likelihood of failing (the trend is your friend)
With increasing comments about the weakness of the Yen and the possible invention from the BoJ, the longer the USDJPY stays at this price level, the higher chance we are likely to see an intervention.
However, we cannot rule out a continuation of the upside, especially if the DXY recovers in strength.
I would avoid further trades to the upside, and wait for possible counter trend reversal. But speculative counter-trends setups have a higher likelihood of failing (the trend is your friend)
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