{"id":78868,"date":"2024-03-27T10:56:43","date_gmt":"2024-03-27T08:56:43","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=78868"},"modified":"2025-12-11T11:54:48","modified_gmt":"2025-12-11T09:54:48","slug":"market-intervention-for-jpys-rescue-ahead","status":"publish","type":"post","link":"https:\/\/www.ironfx-cn.com\/en\/market-intervention-for-jpys-rescue-ahead\/","title":{"rendered":"Market intervention for JPY\u2019s rescue ahead?"},"content":{"rendered":"\n<p>As headlines for the Baltimore Key Bridge disaster continue to reel in, we note that in the FX market, the USD was able to make some modest gains yesterday and during today\u2019s Asian session, against its counterparts. We also note that the wider-than-expected acceleration of the US durable goods orders growth rate for February which was released yesterday, also provided tailwinds for the greenback. The release tended to imply a greater degree of confidence on behalf of US businesses to actually invest in the US economy. On the other hand, the drop in the consumer confidence indicator for March seems to imply less optimism among US consumers, which may weigh on the growth of retail sales in the coming months. Overall, we highlight as the next big test for the USD the release of the Core PCE Price index for February on Good Friday, yet until then we expect fundamentals to lead the greenback.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Market intervention for JPY\u2019s rescue ahead?\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/VSEf73JJN_I?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>On a technical level, the USD strengthened against the AUD, causing the AUD\/USD to drop yet the pair bounced on the 0.6515 (S1) support line. Given that the pair respected the lower boundary of its current sideways motion, and currently the RSI indicator remains below but near the reading of 50, implying a weakening bearish sentiment we tend to maintain a bias for the sideways motion to continue for the time being. For a bearish outlook, we would require the pair the break the 0.6515 (S1) support line, taking aim of the 0.6400 (S2) support level. Should the bulls take over, we may see AUD\/USD rising and breaking the 0.6620 (R1) resistance line, thus paving the way for the 0.6725 (R2) resistance level.&nbsp; &nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>We also note the weakening of the JPY which characteristically has approached a historic 34-year low against the USD. The weakening of JPY prompted Japan\u2019s Finance Minister Suzuki to warn the markets that Japanese authorities would take \u201cdecisive steps\u201d. It should be noted that the Japanese government used the same wording before a market intervention in the past hence speculation of a possible imminent operation by the Japanese government to save the Yen is on the rise. On the flip side BoJ board member Tamura highlighted the need for a steady yet slow monetary policy normalization while BoJ Governor Ueda was reported stating that BoJ must continue to support the Japanese economy with easy policy. The comments of the two BoJ policymakers were a painful reminder that the bank may proceed with a rather slow normalization of the monetary policy and in turn may weigh on JPY. We also highlight the release of BoJ\u2019s summary of opinions for its March meeting and should we see that BoJ policymakers intend to proceed with a slow pace toward the normalization of the bank\u2019s monetary policy we may see JPY weakening.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>USD\/JPY was flirting with the 151.90 (R1) resistance line, yet the level held its ground. On the one hand, the upward trendline tends support the notion of a bullish outlook, on the other hand, the 151.90 (R1) resistance line remains strong and may prevent the pair from rising to new 34-year record-high levels. The RSI indicator remains above the reading of 50, implying a residue of a bullish sentiment among market participants. Should the bulls be able to regain control over the pair we expect the pair to break the 151.90 (R1) resistance line with the next possible target for the bulls being set at the 153.80 (R2) resistance levels. On the other hand, should the bears take over the reins of the pair\u2019s direction, we expect the pair to break initially the prementioned upward trendline in a first signal that the upward movement has been interrupted and continue lower to break also the 150.85 (S1) support base and take aim of the 149.00 (S2) support level.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-highlights-for-the-day\"><strong>Other highlights for the day:<\/strong><\/h2>\n\n\n\n<p>Today we get the US weekly EIA crude oil inventories figure. In tomorrow\u2019s Asian session, we get Australia\u2019s retail sales rate for February. Also, we note Riksbank\u2019s interest rate decision, followed by the speech by ECB Elderson.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-usd-jpy-h4-chart\"><strong>USD\/JPY H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"452\" src=\"\/wp-content\/uploads\/2024\/03\/image-132.png\" alt=\"support at one hundred and fifty point thee eight and resistance at one hundred and fifty one point nine, direction sideways\" class=\"wp-image-78871\" title=\"usd-jpy-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 150.85 (S1), 149.00 (S2), 146.50 (S3)<\/p>\n\n\n\n<p>Resistance: 151.90 (R1), 153.80 (R2), 155.50 (R3) <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-aud-usd-h4-chart\"><strong>AUD\/USD H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"452\" src=\"\/wp-content\/uploads\/2024\/03\/image-133.png\" alt=\"support at zero point six five one five and resistance at zero point six six two, direction sideways     \" class=\"wp-image-78872\" title=\"aud-usd-four-hour-chart \"\/><\/figure>\n\n\n\n<p>Support: 0.6515 (S1), 0.6400 (S2), 0.6270 (S3)<\/p>\n\n\n\n<p>Resistance: 0.6620 (R1), 0.6725 (R2), 0.6870 (R3) <\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1988\" height=\"485\" src=\"\/wp-content\/uploads\/2024\/03\/image-134.png\" alt=\"\" class=\"wp-image-78873\" title=\"benchmark-27-03-2024\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1006\" height=\"571\" src=\"\/wp-content\/uploads\/2024\/03\/image-136.png\" alt=\"\" class=\"wp-image-78876\" title=\"table-27-03-2024\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1422\" height=\"1125\" src=\"\/wp-content\/uploads\/2024\/03\/image-135.png\" alt=\"\" class=\"wp-image-78874\" title=\"morning-releases-27-03-2024\"\/><\/figure>\n\n\n\n<p>If you have any general queries or comments relating to this article please send an email directly to our Research team at <a href=\"mailto:reseach_team@ironfx.com\">research_team@ironfx.com<\/a><\/p>\n\n\n\n<p>Disclaimer:<br>This information is not considered as investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As headlines for the Baltimore Key Bridge disaster continue to reel in, we note that in the FX market, the<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-78868","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>JPY Market Intervention Speculation as Yen Weakens<\/title>\n<meta name=\"description\" content=\"JPY market intervention fears rise as the yen hits 34-year lows, while USD strength, BoJ signals, and key data keep FX volatility elevated.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/en\/wp-json\/wp\/v2\/posts\/78868\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market intervention for JPY\u2019s rescue ahead?\" \/>\n<meta property=\"og:description\" content=\"JPY market intervention fears rise as the yen hits 34-year lows, while USD strength, BoJ signals, and key data keep FX volatility elevated.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-cn.com\/en\/market-intervention-for-jpys-rescue-ahead\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-27T08:56:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-11T09:54:48+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/market-intervention-for-jpys-rescue-ahead\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/market-intervention-for-jpys-rescue-ahead\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"Market intervention for JPY\u2019s rescue ahead?\",\"datePublished\":\"2024-03-27T08:56:43+00:00\",\"dateModified\":\"2025-12-11T09:54:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/market-intervention-for-jpys-rescue-ahead\\\/\"},\"wordCount\":795,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/market-intervention-for-jpys-rescue-ahead\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/market-intervention-for-jpys-rescue-ahead\\\/\",\"name\":\"JPY Market Intervention Speculation as Yen Weakens\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/#website\"},\"datePublished\":\"2024-03-27T08:56:43+00:00\",\"dateModified\":\"2025-12-11T09:54:48+00:00\",\"description\":\"JPY market intervention fears rise as the yen hits 34-year lows, while USD strength, BoJ signals, and key data keep FX volatility elevated.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/market-intervention-for-jpys-rescue-ahead\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/market-intervention-for-jpys-rescue-ahead\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/market-intervention-for-jpys-rescue-ahead\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Market intervention for JPY\u2019s rescue ahead?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. 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