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Japanese yen – at the door with samurai guards

The Japanese yen is trading in a range as part of the completion of the five-trend buying wave. Earlier, in this range, the Bank of Japan carried out interventions to reduce the exchange rate against the dollar and devalue the national currency.

We expect the market to react to this range and reduce quotes against the dollar. This is usually accompanied by very strong impulsive movements when the regulator intervenes.