Put your motorcycle helmets on for more jawboning out of Japan today.
Yesterday the verbals got a bit stronger:
ps. there are links in this post to more info on what keywords and phrases to watch out for
Japanese authorities tell us they haven’t selected a level at which to intervene, they are more concerned about the pace of moves.
Traders are thinking there is some truth in that but that, nevertheless, 150 looks too juicy a level for there not to be Bank of Japan buying of yen. We’ll see!
