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You were warned- USD/JPY slides below 155

Several days ago an update here noted the likely price action in the USD/JPY would see the BOJ attempt to trap the market long on the dollar, as that would be most effective for them and at a  time when liquidity was thin. So, that is exactly as it was around 2am GMT this morning. Well, as you can see; that is exactly what has played out so far today. An earlier update this morning also warned about a move to below 155 and that is also exactly what has now played out just now. The dollar has just fallen to a new session low at 154.54. The price action remains rapid and extremely volatile too, as one might expect. The perverse thing that always makes this analyst chuckle, is the rhetoric from the BOJ; about wanting to stamp down on FX volatility and of course it is their actions that eventually create even more of that. The USD/PY is just now trading at 155.15

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