Few months ago I published this chart.
Black trendline shows parabolic divergence of USDJPY since YCC start. Trend has been quite close until first high, then BoJ open market operations moved it down a bit.
Grey trendline was my hypothesis in case of BoJ intevention, so grey line is the new reference. Here we are.
Good luck BoJ
Last idea " has usdjpy gone ballistic already " was based on a 1 month timeframe trend.
The chart is consistent, BoJ intervention did not change the trend so far. Let's wait for month close, though.
On a shorter TF like 1W, 1D we can see BoJ intervention pushed USDJPY a little away from my ballistic trendline for a few trading hours; now it is back in...
It looks like USDJPY is spiraling out of control.
As government bonds 10y interest is artificially kept under a given level, and given inflation expectatios, usdjpy explodes.
BoJ is not able to stop the rise, except for some short-lived attempts. This attracts speculators for easy money, driving further up usdjpy, more inflation, more yield curve control, more...
