opportunity for buy in USDJPY

21 Tem

The Yen rose by 1.5% today, reaching 155.5 against the Dollar, its highest level in over a month. This increase is due to markets reassessing the monetary policy expectations of both the Bank of Japan and the Federal Reserve, as well as Japan's willingness to intervene to support its currency. This rise extends the rally that began late last week, lifting the Yen from a 38-year low of 162, possibly due to Japan selling more than 20 trillion Dollars to support the currency.