Japan Confirms Significant Currency Intervention

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Japan Confirms Currency Intervention Over the Past Month

TOKYO—Japan spent 5.535 trillion yen ($36.23 billion) on currency intervention between June 27 and July 29, according to data from the Ministry of Finance. This confirms that Japan engaged in currency intervention again last month, following nearly Y10 trillion spent earlier this year.

Market Volatility and Key Levels

The price has reached a strong support line at 150.77 and is on the verge of breaking this barrier.

• Bullish Scenario:
  For a bullish trend to emerge, the price must stabilize above 150.770, potentially reaching 152.850.
  
  
• Bearish Scenario:
  The bearish trend is confirmed as long as the price remains below the pivot line at 149.870, targeting 148.830 and 147.830. There is also the possibility of a retest up to 150.77 before resuming the downward trend.
  
  
• Key Levels:
  - Pivot Line: 149.870
  - Resistance Levels: 150.770, 151.810, 152.840
  - Support Levels: 148.850, 147.830, 146.400
  
  Movement Range:
  The anticipated movement range is between the resistance at 152.850 and the support at 147.830.
  
  PREVIOUS IDEA:
  
  

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