Dollar/Yen Currency Intervention 8-4-11

This morning the intervention occurs that we have been anticipating.  76.5 saw two spike lows over the last few days but overall, the 77 level was being defended.  Thus, the jump from 77 to over 80 is three bucks or more. Note the intial test of the 80 resistance where the move stalled, but then regained strength and punched up thru the 80 level.  Looks like 80 may be their initial target.  In the days ahead we find out if they want to send it higher.