Japan financial authorities reportedly intervened in the FX market

Given the size and nature of the move, it’s tough to think of anything or anyone else that could have moved price action in such a manner. USD/JPY is still keeping around 155.90 for the time being, down 1.5% on the day and down from around 159.60 before the BOJ/MOF stepped in. We’ll only get verbal confirmation from Japanese officials themselves after they release the FX data next month here.

This article was written by Justin Low at www.forexlive.com.