I don’t think much more needs to be said at this point. The lack of intervention signals from the Japanese authorities today has USD/JPY buyers reviving the desire to move higher. The pair is now up almost 1 percent at 151.50, hitting new highs in 32 years. As mentioned earlier, the highs of 160. 0 from 1990 are still a long way off, so there is plenty of room to climb. The only thing to watch out for is the interference game. But with the fundamentals remaining the same, the MOF and the BOJ must be careful because all the attempts they make here will lose their effectiveness over time.
