USDJPY slumps after touching 150❗

USDJPY slumps, Bank of Japan intervention❓

USDJPY experienced a massive slump this afternoon. The move was enormous and very quick, and it occurred seconds after the pair touched 150.00 level - the highest since October 2022! This is an important area as it is often seen as the level that will trigger intervention from the Bank of Japan, which was the case in the past. Prior to this slump, the pair was on the rise driven by strengthening of the US dollar, triggered by a surge in JOLTS job openings data for August. 

USDJPY slumped from around 150.00 to around 147.30 - a plunge of almost 2%. While a big part of the move has been erased already, the pair still trades near 149.00 mark.

Source: xStation5