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James Stanley, senior strategist at DailyFX, questions why the Japanese yen (JPY), despite being considered undervalued, relies on the threat of government intervention to prevent further losses in currency markets.
Stanley draws attention to market dynamics that appear to keep JPY from depreciating further, with intervention as a primary supporting factor.
Stanley has previously tracked gold’s movement, noting its rise after PPI data and identifying resistance at 4100 and 4200. In a separate report, he highlighted the Nasdaq’s approach to support near 26,000 ahead of upcoming TSLA and GOOG earnings. His recent focus on the yen continues a pattern of monitoring key inflection points in major asset classes.