Forex Technical Update 9.17.2010 - Japanese Yen after Intervention

[FXTimes]

I don't think the Japanese government intervened to lull the market. It is political pressure from exporters. However, the market is waiting there for resistance, as you should already see today. However, I think the market can extend to 88.00 and still maintain a range between 88 and 83. Of course a break above 88 is very significant and turns the market bullish for the following few weeks.

[vinceandsharon33]

hi,

do you think that maybe the Japanese have weakened the Yen to lull people into thinking that USD/JPY will break the 85/86 area (because of there intervention) and then it will sell ?

thanks.