[Forex Intervention Primer] Is it Time for a USDJPY Intervention Alert?

With USDJPY coming within spitting distance of the pivotal 145-150 range it is no wonder traders have gone on high alert for any signs of intervention. So far, all we have seen is some verbal intervention, often a prelude to the actual event.The ultra-easy monetary policy pursued by the BoJ at a time when other major central banks continue to raise interest rates has given a green light to sell the Japanese currency.Why is there an intervention alert?One look at this weekly USDJPY chart, courtesy of The Amazing Trader, from mind-October, 2022 to mid-January 2023 shows the impact of aggressive BoJ intervention. Over this period USDJPY fell from a high of 151.94 to a low of 127.22, around a 16% drop. It has since climbed back to c