Frankly, I just don’t see how the Bank of Japan can change the course of this market, even though it has stepped in and intervened from time to time. USD/JPY moved back and forth against the Japanese yen in Thursday’s trading session as we await the US jobs numbers. There is still a lot of support in the market at the moment so I hope we get some sort of massive bounce to push the value forward. After all, the US dollar is arguably the strongest currency, so it makes sense that we continue to see it rise. Advertisement Image Strong Dollar Swings Make Very Profitable Trades Move Now! The 50-day EMA is below the bottom of the recent consolidation zone and I believe it provides support. Additionally, there is also an uptrend line below which it continues to rise; Therefore, I believe we will eventually reach the 150 yen level. The ¥150 level is a big, round, psychologically significant number, and it attracts a certain amount of attention. Noise Ahead Ultimately, this is a market where I think there is still a lot of noise activity, but at the end of the day, it makes a lot of sense that we continue to rise in this market based on the strength of the US Federal Reserve, US interest rates and of course the US economy. Frankly, I just don’t see how the Bank of Japan can change the course of this market, even though it has stepped in and intervened from time to time. Interventions can only raise the greenback, not break it. After all, the Japanese are still buying unlimited bonds, which is tantamount to flooding the market with that currency. As a result, the Japanese yen continues to be a punch bag against most currencies. In addition to the US dollar continuing to strengthen against the Japanese currency, many others are also having a field day. Until the Bank of Japan changes its general stance, it is difficult to foresee a scenario in which the Japanese Yen will strengthen in the near future. But they stop buying unlimited bonds, we saw all the short selling on the way to mom.