Today is Sun, May 28, 2017 4:17:33 GMT
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Forex Chart of the Day Stealth Intervention

The jaw-boning seems to be working for the Ministry of Finance and Bank of Japan as USD/JPY drifts higher today towards the 76.80 level. Again between 76.50 and 76.80 is where the market is comfortable for the moment. While the market contemplates its next move, it was timely of the Finance Ministry to release data today showing Japan’s unannounced or ‘stealth’ intervention in the first four days of November 2011 totaling 1.02 trillion yen. This was after selling a record 8.07 trillion yen on Oct 31 (which they made public at the displeasure of the US) when yen reached a post WWII low of 75.35 against the USD. One Official agreed that the unannounced intervention was the most effective strategy to weaken the currency. Food for thought if you see USD/JPY rally for no apparent reason.