USD/JPY collapses below 150.00, intervention?
- Japanese yen soars suddenly across the board on potential intervention.
- Volatility at extreme levels in JPY crosses.
- USD/JPY falls 300 pips from the top, find support so far around 149.00.
The USD/JPY lost three hundred pips during the last minutes rising suspicion of an intervention from Japanese authorities. The pair rose to as high as 151.92 earlier on Friday, the highest level since August 1990 and it has recently dropped below 149.50.
The Bank of Japan and the Finance Minister could be behind the dramatic decline. The pair is now negative for the day and it could post the first decline in more than two weeks.
Analysts doubt about how successful could be an intervention while fundamental conditions remain the same with and ultra-accommodative Bank of Japan and the Federal Reserve rising aggressively interest rates.
Volatility at current times is at extreme level in USD/JPY, with the pair moving more than 30 pips by the minute.
USD/JPY technical levels