USD/JPY smashed lower in sign of intervention

<p>USD/JPY was smashed lower to 147.40 after a break of 150.00.</p><p>So there you have it, they didn't want 150.00 to break.</p><p>I thought they might let it go above 150.00 because the dollar is broadly strong but it's clear now that the line in the sand is 150.00. However there has been a quick move to buy the break lower on the expectation that it's still clear sailing right up to 150.00.</p><p>Expect this pair to remain volatile as the market sorts it out.</p><p>I wouldn't expect any immediate confirmation of intervention but there's no other reasonable explanation.</p>

This article was written by Adam Button at www.forexlive.com.