Dollar/Yen Reaches 85-86 Target Zone with Coordinated Intervention

Dollar/yen has reached the targeted goal of 85-86, now at the September 2010 level where previous Japan intervention occurred.  The blue box shows the September intervention after dollar/yen fell to 83, bouncing price up to 86, but, the chart also shows that the move did not last long.  Now one-half year later, dollar/yen plummeted to 78, which means stronger yen and weaker dollar relatively, and this placed the wheels in motion to orchestrate a coordinated intervention this time, unlike September when Japan did it alone.

The green box shows the big jump off the bottom as the coordinated central banker orchestra played.  That placed price up to 81, then the purple intevention box that took the dollar/yen from 81 to the 85-86 target zone.  Japan's goal now is most likely to maintain at least a sideways motion thru this 85-86 zone moving forward.  83 serves as key support.  If crossed to the downside, Japan will be reassembling the central banker orchestra and coordinate another intervention move to keep dollar/yen in this mid 80's target zone.