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The market awaits Japanese intervention

The market awaits Japanese intervention | 03 October 2023

03 October 2023, USD/JPY

The market awaits Japanese intervention

USDJPY trading plan:

The currency market continues to discuss the scenario of future intervention by the Japanese financial authorities. The Ministry of Finance has indicated that the 150 level is critical and that intervention won't be long in coming. Hedge funds will certainly try to push prices up to this level, as we've seen similar situations in the past. With this in mind, it's wise to take advantage of the fall in the pair's quotes to go long and close all long positions around 149.93 to avoid tempting fate.

Investment idea: buy 149.30 and take profit 149.93.

David Johnson
Analyst of «FreshForex» company
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