Bank of Japan's JPY Intervention: Analysis Replay Video from April 29, 2024
On April 29, 2024, the US dollar reached 160yen for the first time in 34 years.
Approximately two and a half hours later, a significant price movement occurred, which is believed to have been due to currency intervention.
The video we've created uses the PracticeSimulator to recreate the chart movements of that day. It based on a 1-minute chart of USD/JPY.
Additionally, the video synchronizes and displays 5-minute charts for USD/JPY, EUR/JPY, EUR/USD, Nikkei 225, Gold, S&P 500, EU 50, and Bitcoin in USD, offering a comprehensive view of their correlations and reactions to the intervention.
Price Movements ※Time and approximate prices:
- April 29, 1:00 : 157.800 yen
- 4:35 : 161.197 yen
- 7:04 : 159.597 yen
- 7:08 : Time believed to be intervention
- 8:06 : 155.030 yen
- 10:07 : 157.188 yen
- 10:08 : Another significant fluctuation
- 10:35 : 154.604 yen
- Significant fluctuation around 19:30
※This is a replay video without commentary, for your analysis and consideration
Reviewing the replay, it appears that the Nikkei 225 is affected, with GOLD moving in the opposite direction, indicating a correlation. The S&P 500 appears very volatile around the US market opening. Bitcoin also seems to follow the S&P and Nikkei, acting as a speculative asset.
07:00, there's a sharp swing toward a stronger yen.
Slowing down the YouTube playback can allow for more precise observation.
Please note that this is a replay video using a simulator, so some details may not exactly match the real charts.
Combining various currency pairs and CFDs in the replay can lead to surprising discoveries. There's often more noise before significant changes, which could provide early signs to observant viewers.
Here is the FX training & verification tool used for this simulation: PracticeSimulator_rcm.
https://www.mql5.com/en/market/product/98348
