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Daily Market Analysis By FXOpen
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[QUOTE="FXOpen Trader, post: 346702, member: 104606"] [B][SIZE=5]USD/JPY: Rate Falls Rapidly after Exceeding Psychological Mark of 160 Yen Per Dollar[/SIZE][/B] [img]https://i.imgur.com/ciuYnJP.jpeg[/img] Despite the fact that today is a holiday in Japan, the foreign exchange market is experiencing extreme volatility — wide candles are forming on the USD/JPY chart, and the rate briefly exceeded the psychological level of 160 yen per dollar, reaching a new high in 34 years. The weakening of the yen in the first hours of trading occurred against the background of the fact that: → On Friday, the Bank of Japan decided to leave interest rates at the same level = 0.1%. → At the same time, market participants did not hear clear signals from the Bank of Japan that the weakening yen would be supported. → On Wednesday, May 1, the Fed will announce its decision on the interest rate. It is also expected to remain unchanged at 5.5%, highlighting the difference in monetary policy between Japan and the United States. However, shortly after the yen surpassed the psychological level of 160.00, USD/JPY fell sharply to 155.50 and below — traders, according to Reuters, saw signs of intervention from Japanese financial authorities after a 13% increase since the beginning of the year. Let us recall that Tokyo previously intervened in the foreign exchange market in September and October 2022, when the US dollar exchange rate was about 146.00 and 152.00 yen, respectively. [img]https://i.imgur.com/vTnGSPc.jpeg[/img] [B][URL="https://fxopen.com/blog/en/oa-usd-jpy-rate-falls-rapidly-after-exceeding-psychological-mark-of-160-yen-per-dollar/?utm_source=trendriforum&utm_medium=analysis&utm_campaign=resolve"]TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG[/URL][/B] [I][B]Disclaimer:[/B] This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. [/I] [/QUOTE]
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