Eyes and ears open today – “Verbal intervention threat rises as USD/JPY rises above 150”

That comment in quote marks is via Mizuho in their weekly outlook.

• “Verbal intervention threat rises as USD/JPY rises above 150.”

That is pertinent for the session here today for sure, with USD/JPY having gained mover than 150 points since its Asia time low on Monday.

Also pertinent from the same analysts is this:

• Buoyancy retained for the week ahead as opportuneities for effective
  intervention action may elude in the abscence of major releases.

As I said last week, yeah, USD/JPY drops but the bids gobble it up .

These are 4 hour candles showing the recent uptrend:

This article was written by Eamonn Sheridan at www.forexlive.com.