BoJ Remains Silent on Intervention. Forecast as of 12.07.2024

Despite government officials' denials, the sharp plunge in USDJPY quotes indicates Japan's intervention in the Forex market. This time, the intervention was timed to coincide with the release of US inflation data. Let's discuss this topic and make a trading plan.Highlights and key points The yen has strengthened against the US dollar by almost 3%. The government does not talk about intervention, but it does not deny it either. It takes efforts from both sides to reverse the trend in the USDJPY.