Once again this looks very much like intervention from the Bank of Japan.
They’ve chosen right after the US close to hit it this time. I wonder if they are aware that this makes them look very weak indeed.
Sure, you get good bang for your buck at this time of day. But its unseemly for one of the world’s major central banks to be so focused on saving the pennies.
This article was written by Eamonn Sheridan at www.forexlive.com. Source