💴🚨 USD/JPY SLUMPS TO MULTI-WEEK LOWS AFTER SUSPECTED MoF “RATE CHECK”
USD/JPY just took a sharp hit, sliding to multi-week lows after markets flagged a possible Japanese Ministry of Finance (MoF) rate check — often a precursor to direct FX intervention.
📉 What’s driving the move
• Sudden yen strength sparked intervention fears
• Traders rushed to unwind USD/JPY longs
• Volatility spiked as confidence in upside faded
🧠 Why this matters
A “rate check” isn’t intervention — but it’s a clear warning shot.
Historically, these signals:
• Cap USD/JPY rallies
• Force positioning resets
• Increase downside risk short-term
📌 Market takeaway
As long as intervention risk hangs over the pair, USD/JPY upside looks limited.
Traders will stay cautious until clarity emerges from Japanese officials or price stabilizes.
⚠️ Yen moves fast when policy lines get tested.
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