USDJPY 4 HOUR CHART – Hidden hand?
As noted in our Weekly FX Chart Outlook, USDJPY remains the most sensitive currency to the risk on or risk off mood, especially the latter
USDJPY came close (today’s low at 141.76_) vs the low for the move (141.68) and then rebounded as it followed higher US stocks to start the week.
For me this suggests a hidden hand (BoJ?) protecting the low but in any case there is a higher low.
BUT to end this current episode down and shift the focus to 145, 144.22 would need t be taken out.
Look for 143.59 to be a pivotal level today.