USD/JPY: upside exposed on verbal intervention - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the USD/JPY pair advanced modestly this Tuesday.

Key Quotes:

"Reaching a daily high of 108.67 in the US session, as Japanese authorities offered another round of verbal intervention, as FM Aso said that that Japan will take “proper action” if there are extreme one-sided FX moves."

"Also, weighing on the safe-haven currency was an improvement in risk-related sentiment, as Asian and European equities closed higher, whilst Wall Street reversed its Monday losses. The risk of further declines remains dormant, as this daily recovery is far from relevant."