Speculation of Yen Intervention had been carried out for a few weeks in CNBC and Bloomberg Television. Many currency strategists have been guessing incorrectly recently. In fact, it will be a deadly guess. Some guru said “I don’t think Japan will intervene.” on national Television recently.
Today is the day we are waiting for. As we mentioned before, the movement of politicians are very predictable. (Read: Make Profit from the News)
Similar Graph for Gold in term of Yen,
The graph of USD/JPY pair compare to EUR/GBP pair at the same period, where there is no movement at all.
Japan last intervened to stem the yen in the aftermath of the March earthquake is shown below. (compare to today movement)
It is not silly that “believe in rumors, don’t ignore speculation, all you have to do is collect the profit and take vacation.”
It it very cool to see the initial and extended intervention.
