Shocking fact: two interventions were casually wiped away. The yen was too weak as a result...
Hello.
The FX market is in turmoil. The USD/JPY has finally broken through the 160 yen level.
Those who are sharp should remember this.
Just one to two months ago, when the government and the Bank of Japan deployed a massive amount of funds totaling 9 to 11 trillion yen—an amount at the level of a national budget—to forcibly stop the yen from depreciating.
But what happened in the end?
We saw the wall of that enormous intervention,
and the USD/JPY slid back as if nothing had happened, easily wiping the intervention away.
The shocking fact is that a national-scale defense line was breached in such a short period of time.
Now, what is happening behind the scenes? We, traders and individual investors, are faced with the 'cruel reality' explained.