No USD/JPY intervention until 135, and even 140 after July

For bank trade ideas, check out eFX Plus. “CitiFX Strategist has produced two notes, looking at BoJ’s intervention track record and a Q&A on the process itself summarizing the critical points,””Japan authorities don’t appear to have any material intention do intervene at present and believes a USDJPY move above 135 would bring an imminent threat (however the bar would rise to >140 after the Japan’s Upper House election in July),” 

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