USD/JPY plunging after pop above 145 – verbal intervention fears

<p>USD/JPY popped to a high above 145.20 earlier in the session but has since been slammed lower to circa 144.67.</p><p>USD/JPY back around 145 has, of course, heightened the fear of Japanese authorities intervening to support they yen (and thus push USD/JPY lower). The most likely form of intervention at this stage would be verbal, see this for more on what to watch for:</p><ul><li><a href="https://www.forexlive.com/centralbank/jpy-alert-the-clear-signals-to-watch-for-imminent-bank-of-japan-fx-yen-intervention-20230701/" target="_blank" rel="follow" data-article-link="true">JPY alert: The clear signals to watch for imminent Bank of Japan FX yen intervention</a></li></ul><p>As I post there has been no commentary out of Japan re the yen. That may change. </p>

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