USD/JPY plunges on Monday US time, speculation surrounds Bank of Japan intervention

<p>Its going to be an interesting session in Asia and I'll be on the edge of my seat until I hear Japanese officials say they have no comment on the sharp drop for USD/JPY overnight. </p><p>If you missed it you can check it out on the free ForexLive chart, here's a 1 minute candle overview:</p><p align="left">
(This
chart is from our charting app, which is free and <a href="https://www.forexlive.com/LiveCharts">can
be found at this link</a>)</p><p>Narratives I have gathered include:</p><ul><li>a USD 1.3bn option expiry at 10am NY time <a href="https://www.forexlive.com/Orders/fx-option-expiries-for-13-november-10am-new-york-cut-20231113/" target="_blank" rel="follow">(Justin told y'all about this hours before</a>) … and the time certainly fits</li><li>Bank of Japan intervention (I have seen zero credible confirmation of this)</li><li>stealth BOJ intervention (getting warmer given there is no credible confirmation) </li><li>152.00 is a 'big round number' and sellers were gathered there …. m'eh, it tasks more than a few offers for USD/JPY to drop nearly a big figure in a few minutes</li></ul><p>Comments welcome (until the Japanese Ministry of Finance weigh in with some useless remarks)!</p>

This article was written by Eamonn Sheridan at www.forexlive.com.