{"id":12950,"date":"2012-07-27T11:49:25","date_gmt":"2012-07-27T15:49:25","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=12950"},"modified":"2012-07-27T11:49:25","modified_gmt":"2012-07-27T15:49:25","slug":"watching-for-intervention-as-dollar-falls-vs-yen","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2012\/07\/27\/watching-for-intervention-as-dollar-falls-vs-yen\/","title":{"rendered":"Watching for Intervention As U.S. Dollar Falls Toward Five-Month Lows Versus Yen"},"content":{"rendered":"

(This is an excerpt from an article I originally published on Seeking Alpha on July 23, 2012. Click here to read the entire piece<\/a>.)<\/strong><\/p>\n

Japanese Finance Minister Jun Azumi has formed a habit of warning currency markets about the strength in the Japanese yen (FXY). For example, on May 31st, with USD\/JPY slightly above 78 and at 3 1\/2 month lows, Bloomberg reported the following warning from Azumi<\/a>:<\/p>\n

{snip}<\/p>\n

The Japanese yen hit a bottom against the U.S. dollar the next day. Unfortunately for Azumi, just six weeks later these levels are getting retested. {snip}<\/p>\n


\n
\"If<\/a>
If the U.S. dollar breaks recent lows versus the yen, it could quickly retest historic lows without intervention<\/figcaption><\/figure>
\n<\/center><\/p>\n

Almost on cue, Azumi issued another warning about the yen’s strength last Tuesday, July 17th<\/a>: {snip} However, this time, almost a week later, the yen has continued to gain against all major currencies.<\/p>\n

Moreover, it is not so easy to claim that the yen is gaining from safe-haven buying. {snip}<\/p>\n


\n
\"While<\/a>
While the yen has gained on the U.S. dollar, the Australian dollar has gained on the yen<\/figcaption><\/figure>
\nSource: FreeStockCharts.com<\/a><\/strong>
\n<\/center><\/p>\n

The Australian dollar’s rise against the yen has stalled out for much of this month. Perhaps the resumption of a downtrend in this currency pair could signal an imminent move to intervene on behalf of the yen.<\/p>\n

{snip}<\/p>\n

All things considered, I do not expect the yen to spend much time below 78 with the USD\/JPY pair. {snip}
\nBe careful out there!<\/p>\n

(This is an excerpt from an article I originally published on Seeking Alpha on July 23, 2012. Click here to read the entire piece<\/a>.)<\/strong><\/p>\n

Full disclosure: net short Japanese yen, net short Australian dollar<\/p>\n","protected":false},"excerpt":{"rendered":"

(This is an excerpt from an article I originally published on Seeking Alpha on July 23, 2012. Click here to read the entire piece.) Japanese Finance Minister Jun Azumi has formed a habit of warning currency markets about the strength in the Japanese yen (FXY). For example, on May 31st, with USD\/JPY slightly above 78 … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[20,204,21,1],"tags":[772,310,421,138,1007,1591,454],"class_list":["post-12950","post","type-post","status-publish","format-standard","hentry","category-forex","category-japan","category-u-s-dollar","category-uncategorized","tag-audjpy","tag-australian-dollar","tag-currency-intervention","tag-japanese-yen","tag-jun-azumi","tag-u-s-dollar","tag-usdjpy"],"yoast_head":"\nWatching for Intervention As U.S. Dollar Falls Toward Five-Month Lows Versus Yen - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2012\/07\/27\/watching-for-intervention-as-dollar-falls-vs-yen\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Watching for Intervention As U.S. Dollar Falls Toward Five-Month Lows Versus Yen - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"(This is an excerpt from an article I originally published on Seeking Alpha on July 23, 2012. 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