April 26 (Reuters) – A look at the day ahead in Asian markets.
Asia’s market spotlight on Friday falls on the Bank of Japan’s policy announcement, as the cat-and-mouse game of when or if Tokyo intervenes in the currency market continues, and investors digest the latest U.S. mega tech earnings reports.
What is foreign exchange intervention? Who decides and conducts foreign exchange intervention?
https://www.boj.or.jp/en/about/education/oshiete/intl/g19.htm
In Japan, foreign exchange intervention is to be carried out under the authority of the Minister of Finance. As stipulated in the Act on Special Accounts and the Bank of Japan Act, the Bank conducts foreign exchange interventions on behalf of and at the instruction of the minister.
All I say about that is that one better be well connected with appropriate entities if one is to make out like a bandit.
Otherwise: good luck
History of Japan’s intervention in currency markets
By Reuters
https://www.reuters.com/markets/currencies/history-japans-intervention-currency-markets-2024-03-28/
Economic Data Calendar Friday
After weeks of so many speculations and questions: “ Is BoJ going to intervene and where “ we got a simple answer – NO
Even if Boj did some undercover work and used lots of senseless blubber, the market did not flinch.
EURUSD 4 H
And now this does not look good for EUR Bears – This is becoming a very Bullish Formation on Intraday time frames.
Resistances are at 1.07400 & 1.07550 – break of would lead us towards 1.08150.
There is another 50 min for this bar to close, and even Europe is out, usually that is the time for previously created intraday trend to continue uninterrupted .
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