BOJ and US intervened at 163 level; yen rallying back up suggests intervention failed.

So, what we had was the US and Japan spending billions buying yen to push this back down. Okay, Trump came out and said, "We've always been friends with Japan. They've been very nice to us except for Pearl Harbor because he's hilarious. But now we're rallying right back up." Okay, so the BOJ's intervention level of 163 is the next test if 160 breaks. So if we get back above this box, we're going right back to that high, which is where the BOJ intervened and the US put in billions. His take is three weeks and billions dollars and the yen has given back most of the ground they fought for. The yield on US bonds is still almost two points higher than on Japanese bonds. So money flows out of the yen the same way it did before anyone intervened. He thinks 160 breaks soon.