USDJPY hits another fresh 38-year high

You know the drill by now. USDJPY hits a new 4-decade high, so pay attention to the price action in case the move sees push back from Japanese officials.

Remember, they don’t target specific levels, they usually target volatility of the moves.

At this stage the verbal jawboning is ignored, so if they really are concerned they’ll either need to spook markets momentarily with a rate check, or dive in with intervention.

Either way the moves will be massive and swift, so pay attention and be careful out there.

This article was written by Arno V Venter at www.forexlive.com.