USD/JPY –

The US Dollar kept its bid against the Japanese currency, settling at 155.63, which are near 34-year highs. Immediate resistance today lies at 155.80 (overnight high traded was 155.75) followed by 156.10. Immediate support can be found at 155.20 (overnight low traded was 155.24). The next support level lies at 154.90. With verbal warnings from Japan Inc stepping up, expect a volatile trading session today. Having traded in markets where the MOF/BOJ have intervened in the past, this writer believes it is probable today. Tin helmets on!



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