[Inside Forex] Will USDJPY150 Be Tested?

reach150-.comWith USDJPY trading at 32-year highs, historic chart levels have little meaning. This leaves psychological levels as the key points to watch. In this regard, the focus is on USDJPY 150, which is not just a major but a mega psychological level. It is also the current BoJ/MoF line in the sand. This follows a failed attempt to defend the psychological 145 level. As I pointed out in Inside Forex: The Boj Strikes Back, unilateral intervention, such as the current attempt to contain the relentless rise in USDJPY, tends to have diminishing returns the more times it is employed. This does not mean it cant inflict some pain on short-term traders as can be seen by this one minute chart (courtesy of The Amazing