Japan Top Currency Diplomat Kanda: Took Decisive Action In Forex Market

History of BOJ interventions:

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Sep 22, 2022 3:27am

Quoting chemosi

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Ohh my!! CHFJPY.....broken markets or just central banks fist fighting???

Ignored

Neither. BOJ and SNB are on the same side.

micmic

Sep 22, 2022 4:06am

Interesting that SNB started selling CHF just one hour before BOJ started buying JPY. Everything was agreed between the two banks.

Sep 22, 2022 3:26am

Quoting Bakker

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And what's that?? Buy Yen.

Ignored

Well it looks like we've got two Central Banks at work in the market this morning, BOJ who want their currency stronger, and SNB who want to take some heat out of the Franc's recent rises.

sixth sense

Sep 22, 2022 3:28am

What happened in 1998 two months after the BOJ intervened? Wow....I'd better holding U/J short cuz we might see 120 again in two months...lol.

You know what they say? The bigger she climbs, the harder she falls. I can't wait to see all the big institutions start to unwind and send U/J down to 110 in a day.

Sep 22, 2022 6:54am

Quoting Guest

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Sell Yen, sell Yen!!

Ignored

Wait.....

500 pips is typical for this type of intervention but the BoJ/Government may have a short-term target in mind

jordanvic

Sep 22, 2022 3:29am

FX trading is the most fun job ever. never a dull week

Sep 22, 2022 3:31am

Quoting nbfx

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{quote} Neither. BOJ and SNB are on the same side.

Ignored

600pips move might mean the opposite, maybe its just for today

Sep 22, 2022 7:05am

Quoting Exodus

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{quote} BoJ raised the rate to 0.50% at their last meeting. First time +ve for many years.

Ignored

The last time it was up there was 2008.

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Trader#8ECE

Sep 22, 2022 3:24am

Don't take Japan for granted. They have been telling about intervention for many weeks.

Sep 22, 2022 6:59am

Quoting chemosi

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CHFJPY, 700pips now. I raise you 1000pips by the end of the day

Ignored

Maybe bounce at 143.50 ... let us watch

Sep 22, 2022 7:00am

Quoting BaliBoyz80

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I prefer look for buy usd, bcs they real action in economy way, not intervene with this way ( currency exchange ). Boj never risa the rate, but always intevene like this, how long they can intervene without good solution in economy way ?

Ignored

BoJ raised the rate to 0.50% at their last meeting. First time +ve for many years.

Oops.... I just looked and seems the rate is still -0.1%

Sep 22, 2022 11:16am

Quoting Bakker

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I also don't understand the rationale behind SNB's move.

Ignored

Their CPI was surprisingly higher at the beginning of the month, also their unemployment rate reduced by 0.1% recently .. so maybe they are trying to be ahead of the game.

However the Swiss don't seem to be suffering currency outflows so ....?

swagtrading

Sep 22, 2022 3:29am

Quoting nbfx

Disliked

{quote} Well it looks like we've got two Central Banks at work in the market this morning, BOJ who want their currency stronger, and SNB who want to take some heat out of the Franc's recent rises.

Ignored

SNB wants franc to fall vs EUR and not really the USD. Here BOJ wants Yen to rally against USD. Slight difference.

Sep 22, 2022 3:33am

Quoting chemosi

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{quote} 600pips move might mean the opposite, maybe its just for today

Ignored

BOJ are buying Yen and SNB are selling Francs

Sep 22, 2022 3:36am

Quoting swagtrading

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{quote} SNB wants franc to fall vs EUR and not really the USD. Here BOJ wants Yen to rally against USD. Slight difference.

Ignored

The cross market effect remains the same regardless of the motivation.

Sep 22, 2022 4:11am

Well that's quite a bit of money moved around, but the fundamentals will always win over in the end! Japan still has a negative rate they have no plans to change and just about everyone else is increasing their rates and indicating a willingness to continue doing that. SNB will still continue to grapple with the problem they've been trying to address for a decade i.e. a strong Franc.

Plus ça change, plus c'est la même chose

Sep 22, 2022 4:22am

Quoting micmic

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Interesting that SNB started selling CHF just one hour before BOJ started buying JPY. Everything was agreed between the two banks.

Ignored

A damn collusion.
i take back all the energy of my above posts.
Nothing to see here...

BaliBoyz80

Sep 22, 2022 3:48am

I prefer look for buy usd, bcs they real action in economy way, not intervene with this way ( currency exchange ). Boj never risa the rate, but always intevene like this, how long they can intervene without good solution in economy way ?

Sep 22, 2022 3:23am

And what's that?? Buy Yen.

Sep 22, 2022 3:43am

BOJ is hitting it hard. 142.79 was support before it give way.

Sep 22, 2022 4:56am

Is this it? When can we expect next shot from BOJ?

Sep 22, 2022 10:53am

I also don't understand the rationale behind SNB's move.

Sep 22, 2022 7:08am

Quoting nbfx

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{quote} The last time it was up there was 2008.

Ignored

You are correct ... I am confused with the SNB who just raised their rate to +0.50%

Sep 22, 2022 3:25am

Ohh my!! CHFJPY.....broken markets or just central banks fist fighting???

Sep 22, 2022 3:42am

Quoting nbfx

Disliked

{quote} BOJ are buying Yen and SNB are selling Francs

Ignored

BOE will be a non event now. They should just cancel to next week

Sep 22, 2022 3:44am

CHFJPY, 700pips now.
I raise you 1000pips by the end of the day

Sep 22, 2022 3:54am

Quoting nbfx

Disliked

{quote} Neither. BOJ and SNB are on the same side.

Ignored

Looking at the stock market, i think your right. It went up!
Coordination...and collusion..

Sep 22, 2022 5:34am

Macro is Macro is Macro - Resistance is futile.

(Isn't that what the Borg always said in Star Trek?)

mike79

Sep 22, 2022 3:41am

Usd jpy would dip lower to 139 I think

goldenmike

Sep 22, 2022 10:37am

manipulation ;-) 700 pips drop UJ Volatilty is king

sada69

Sep 22, 2022 3:25am

Japanese government conducted intevention.

Trader#8ECE

Sep 22, 2022 3:31am

Quoting sixth sense

Disliked

What happened in 1998 two months after the BOJ intervened? Wow....I'd better holding U/J short cuz we might see 120 again in two months...lol. You know what they say? The bigger she climbs, the harder she falls. I can't wait to see all the big institutions start to unwind and send U/J down to 110 in a day.

Ignored

I am targeting 132.

Trader#E338

Sep 22, 2022 3:56am

And right before the h4 close uj makes a 130 pip wick to the downside. Intervention does not beat true economic activity. And there is nothing fundamentally nor technically backing UJ shorts and a bullish yen. They can only intervene for so long.

Trader#E338

Sep 22, 2022 4:00am

Quoting Guest

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Let’s see 130 next week

Ignored

Not going to happen. Trend will continue back bullish and no doubt there will be a huge weekly wick to the downside to confirm. They can only intervene for so long. It’s not a trend change.

Ftmofx

Sep 22, 2022 4:03am

Manipulation price. Market will rebound now

Ftmofx

Sep 22, 2022 4:08am — Edited

Yen is not so strong that USD/JPY can not fall 600 pips. Fill in blanks now start.

Trader#7FCD

Sep 22, 2022 7:26am