Rhody Trader

The level of USD/JPY is bringing me to recall the early years of my life as a professional forex analyst. Back in those days was the first time the 100 level had been broken to the downside, which was obviously a big deal. It was a fun time to be analyst because things were just flying. I remember actually wanting to go into the office on Sunday evening to see how Asia was going to start the new week.

Interestingly, in the end the selling ran out of steam and right about when it did the Bank of Japan came in a bought USD, driving the market right back up. It was about the most well-timed intervention I can remember seeing.

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