The Japanese authorities are planning to repeat the intervention in the currency market in order to stabilize the JPY exchange rate. According to Japan’s finance minister, a strong Yen affects Japanese exporters. That is why it is necessary to stabilize it.
USDJPY has reached the level 75,655. The Japanese authorities say this exchange rate is of speculative nature as it doesn’t reflect the real economic situation in Japan.
FOREX.
According to the Department of Masterforex-V trading System, USDJPY continues its downtrend, thus making the Japanese Yen even stronger. The closest levels of support can be found at 73,58 and 72,09. A reversal can be considered only after the price overcomes the MF pivot and sloping channel (as shown below):
