Forex Technical Update 9.17.2010 - Japanese Yen after Intervention
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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.
FXTimes 1 year ago
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.
vinceandsharon33 1 year ago