A hawkish set of FOMC minutes, unsurprisingly, and a BOJ lost at sea. And so ueyn rises again.
Is this a rapid yen fall? Speculative? Disorderly?
Those are what trigger Japanese officials to quickly wheel out the comments from officials like finance minister Suzuki, chief cabinet secretary Hayashi, and, most notably, Japan’s Finance Ministry’s Vice Finance Minister for International Affairs Kanda (Kanda is the official who will instruct the BOJ to intervene, when he judges it necessary. Often referred to as Japan’s ‘top currency diplomat’).
So, watch out for comments out of Japan today. Whether they’ll have much effect is another matter!
ps. On that final candle, this is what you get at rollover, combined with broker charts relying on the bid for the price feed.
This article was written by Eamonn Sheridan at www.forexlive.com. Source