We expect the Bank of Japan to intervene in the market to support the Yen in the next few hours. In the last few hours there has been a collapse of the Yen against the Dollar. While in the morning European session, the USDJPY was trading at levels around 149.50/149.80, it followed a decline of over 200 pips.
It is possible that the Bank of Japan will wait for the start of the Asian session to intervene and tame the fall of the Yen.
USDJPY reached 151.70 levels, but intervention fears seem to be stopping growth for now.
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