USDJPY got within 3-4 pips of the 32 year high
The USDJPY fell quickly from a high of 151.90 down to a low of 151.20. There was nothing newsworthy to prompt the fall, but traders will chatter about fears of Bank of Japan intervention.
The low price did find support buyers against its rising 100 hour moving average at 151.113 (see blue line on the chart above), and has already bounced back toward the 151.50 level.
After 5 straight days to the upside, and a 6 day looking good this morning, the fall reminds us that there still is some anxiety about intervention. In addition, the high price also got within 3 – 4 pips of a 32 year high at 151.938 (see post here).