Things have to be bad for this to happen.
This is a prime example of Multi bank intervention
"FXstreet.com (Barcelona) - All Japanese Yen crosses have abandoned its recent lows at the speed of light after the G7 countries reached unanimous consensus to conduct a global coordinated intervention aimed at readjusting the Yen value to levels not harmful for the prosperity of the Japanese trade industry. "
http://www.fxstreet.com/news/forex-n...d-140815c35446
When It is a sole effort like the BOJ alone it does something but does not last.
When it is Multiple banks / nations agreeing to intervene it works and there is a MUCH greater possibility that if the yen were to begin strengthening again,
there would be more intervention ESPECIALLY due to the situation in Japan.
Although a strong yen may help them buy essential aid, most aid is free and humanitarian. Japan is driven by exports and the strong yen makes the cost of doing business with them and their exports more expensive in turn hurting the already fragile and now devastated state of affairs in Japan at current.
If it will be a lasting "reversal" is left to be seen, I'd say there will be some serious impact on USD /jpy and the Yen crosses yet to come.
I don't really trade yen, but for fun I put some shorts on a demo before, they were stopped out soon after..!! Always use demos for practice.
Gold is in the stepping stone pattern and arrived at 1412. Let's see if we broke it yet.
This is a prime example of Multi bank intervention
"FXstreet.com (Barcelona) - All Japanese Yen crosses have abandoned its recent lows at the speed of light after the G7 countries reached unanimous consensus to conduct a global coordinated intervention aimed at readjusting the Yen value to levels not harmful for the prosperity of the Japanese trade industry. "
http://www.fxstreet.com/news/forex-n...d-140815c35446
When It is a sole effort like the BOJ alone it does something but does not last.
When it is Multiple banks / nations agreeing to intervene it works and there is a MUCH greater possibility that if the yen were to begin strengthening again,
there would be more intervention ESPECIALLY due to the situation in Japan.
Although a strong yen may help them buy essential aid, most aid is free and humanitarian. Japan is driven by exports and the strong yen makes the cost of doing business with them and their exports more expensive in turn hurting the already fragile and now devastated state of affairs in Japan at current.
If it will be a lasting "reversal" is left to be seen, I'd say there will be some serious impact on USD /jpy and the Yen crosses yet to come.
I don't really trade yen, but for fun I put some shorts on a demo before, they were stopped out soon after..!! Always use demos for practice.
Gold is in the stepping stone pattern and arrived at 1412. Let's see if we broke it yet.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News