Forex
USDJPY Plunges Amid Intervention Speculation
The USDJPY currency pair has seen a sharp move downward, sparking speculation about potential intervention. The price has dipped below $160.87, nearing its July low of $160.446. If it breaks this level, it may target the 100-day moving average at $160.107. Below that, analysts point to a swing area around $159.733 and the 50% midpoint of the trend move at $159.503.
Earlier in the day, USDJPY traded near its high from last week, which was just above the July low. However, the price has since retreated, fueling concerns about potential intervention by central banks or other market participants.