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The BOJ wants stability in FX and right now that is what they have

The Bank of Japan governor, Kazuo Ueda is banging on again about the Yen and FX this morning. Nothing of what he has said this morning has marked any change in his repeated rhetoric regarding the currency. At the same time, he has expressed the desire for currency stability and that is pretty much what he has got so far this week. Yesterday the USD/JPY reached a high at 151.94 and then edged back to a low at 151.72. It set in place a very minor intraday double bottom platform at that level and later closed in the US at 151.82. The range seen so far today has been covered by 151.78 to 151.92 and if that is not stability then nothing is quite frankly. Of course 152 remains a level of key interest for the markets and the BOJ and that has all been explained here many times before. The USD/JPY is right now trading at 151.89

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