Technical Analysis

USD/JPY takes a dive: Intervention?

This market is insane. The latest move in USD/JPY has more hallmarks of intervention than the earlier one.

At the same time, I could see longs rushing out after 13 straight days of gains.

This is an insane market with moves coming from all over the place.

Update: The move has continued down to 150.00 and USD/JPY is now slightly lower on the day, giving up a 200 pip gain. The London fix is coming up as well.

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