Waiting for interventions from the Bank of JapanUSD/JPYOANDA:USDJPYTylerWhite_The dollar showed very strong growth after the shelling in Iran began. Right now, we can use the classic idea of selling the Japanese yen from the 158–160 levels. The thing is, this isn’t just a resistance zone. The Bank of Japan closely monitors the yen to prevent it from weakening too much. If you look at the historical chart, you’ll see that every time the price approaches 160, the Bank of Japan steps in with interventions — selling dollars and artificially pushing the rate lower. At the moment, we are right around this 158–160 zone, and it’s a very good spot to enter short positions in anticipation of another intervention by the Bank of Japan.