The Japanese yen slips over rumours of an intervention once again by the authorities. The pair has been climbing along a rising trendline after it broke above the previous high at 145.80. As the price clears the psychological level of 150.00, the bullish continuation could carry the greenback to August 1990’s high at 151.20. Though the overextension may have prompted some buyers to take chips off the table. 149.50 on the trendline is the first level to gauge buyers’ interest in case of a pullback.
