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USD/JPY smashed lower in rapid fashion after rise to above 150

Since my last update on the USD/JPY with it reaching above 150 for the first time this year we have just had an incredibly rapid move lower. The dollar fell to as low as 147.29 in what a really rapid move. There is a possibility that this was the Bank of Japan stepping into the market to try and cap the dollar at 150. The move lower was then followed by some extremely rapid price swings. There is as yet no confirmation that this rapid move lower was caused by the BOJ, but it does seem that it was. The USD/JPY has since bounced back above 149. It is just now trading at 148.70 and a good deal of caution is advised here following that move 
 

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