USD/JPY Shows Signs of Nervousness as Market Volatility Rises
Money | June 24, 2024, 5:03 a.m.
The USD/JPY 15-minute chart has shown nervous price action, reminiscent of previous movements before intervention territory. The pair dipped quickly from 159.60 to 158.75 before stabilizing around 159.15-30 levels. Similar jerky price movements occurred prior to the last intervention, reaching 155.00 before settling higher at 160.00 after Tokyo's intervention. Despite recent price jumps, volatility remains low, suggesting Japanese officials may not be inclined to intervene at this time. Profit-taking is also contributing to market nerves as the pair approaches a key threshold. Overall, the current price movements indicate caution and uncertainty within the market, with potential intervention on the horizon but not an immediate concern for Japanese authorities.