USD/JPY drops at 150.00

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Source: Dukascopy Bank SA


The USD/JPY reached the 150.00 mark at mid-day on Tuesday. The 150.00 level is where the markets expected the Bank of Japan to intervene and beat the rate down. As soon as the rate pierced the 150.00 mark a massive sell off started. It is unclear whether it was caused by market participants or the Japanese Central Bank.

The drop ignored all technical levels. In general, it is suggested to watch for official comments on the sudden currency move.
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