#USDJPY @ 140.190 : Any sharp near-term move to 142/143 to put intervention back on the agenda – ING (Pivot Orderbook analysis)
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USD/JPY pushed above 140 on Thursday without much fanfare. The pair’s acceleration above 140 may revamp risk of FX interventions as the last time USD/JPY was above 140 in the late 1990s, the Japanese were intervening, economists at ING report.
“Investors have downscaled fears over possible Japanese FX intervention to sell USD/JPY. While we all acknowledge that Japanese authorities would be trying to turn back the tide here (USD/JPY is above 140 for good macro reasons) we should not discount intervention completely.”
“Any sharp near-term move to the 142/143 would probably spark a much sharper verbal protest from Japanese authorities and put intervention back on the agenda.”
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