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Yen


 

Japanese Yen

The yen contract is down about 3% at this time as a result of intervention by the Japanese government in an attempt to weaken that currency.

It has been my observation for many years that intervention by governments whether singly or jointly with others proved to have only a short term effect and never changed the trend.. The result is that one that intervention ceases, the currency will resume the trend in effect before that intervention started.  That leaves a spike on the chart. I believe today's Japanese yen situation will not prove to be any different. How does a market turn? A market must turn on its own; without outside influence.

jbG

 

 

 

 

 

 

 

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