As the (Boj) Ministry of Finance acknowledged covert USDJPY intervention, USDJPY is falling in the Tokyo open. The Ministry of Finance undertook a covert operation intervention between October 21 and 24 of 2022.

USDJPY Technical Analysis

The USDJPY exchange rate was skyrocketing at the moment, making things difficult for the Japanese central bank. Investors are uneasy as the US Dollar surged after Friday’s Nonfarm Payrolls and ended Monday with another positive day. As it is, the Yen has a history of responding quickly and harshly during the Asian session.

The technical analysis above shows how the Yen surged and broke through a significant structure on the charts today and around the announcement. This might result in the market’s first down day and serve as a basis for traders to adopt a directional bias for the day.