Who had the fat finger on Yen yesterday ?

TrAndy2022

TrAndy2022

This is not the signature of Yen intervention. Yesterday there was a spike and a within a minute the USDYEN lost around 2 percent. And then recovered a lot within a minute too. Now it is sideways. To me it looks like someone had a fat finger and now tries to get out of his big position as smoothly as possible. Maybe also risk manager is involved as they will all loose there jobs when this comes out. Several hundred million USD in loss at least I assume for that huge market order. It must be a mistake like exchanged YEN with USD as value, that could explain it. Anyone heard anything ? It should be quite uncomfortable right now on some trading desks (I assume).
 
TrAndy2022 said:
This is not the signature of Yen intervention. Yesterday there was a spike and a within a minute the USDYEN lost around 2 percent. And then recovered a lot within a minute too. Now it is sideways. To me it looks like someone had a fat finger and now tries to get out of his big position as smoothly as possible. Maybe also risk manager is involved as they will all loose there jobs when this comes out. Several hundred million USD in loss at least I assume for that huge market order. It must be a mistake like exchanged YEN with USD as value, that could explain it. Anyone heard anything ? It should be quite uncomfortable right now on some trading desks (I assume).
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When yesterday?
 
MOF definitely intervened and bought dollars. If traders liked 150 levels (USDJPY) they definitely like 147/148/149 levels. Lots of dip buying.
 
TrAndy2022 said:
This is not the signature of Yen intervention. Yesterday there was a spike and a within a minute the USDYEN lost around 2 percent. And then recovered a lot within a minute too. Now it is sideways. To me it looks like someone had a fat finger and now tries to get out of his big position as smoothly as possible. Maybe also risk manager is involved as they will all loose there jobs when this comes out. Several hundred million USD in loss at least I assume for that huge market order. It must be a mistake like exchanged YEN with USD as value, that could explain it. Anyone heard anything ? It should be quite uncomfortable right now on some trading desks (I assume).
More...
Oops. Sorry it is me.

I will wear sharp finger metal caps next time.
 
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No chart? We can't gossip without a chart.
My bet is on 'stop hunting' , who is with me?

Screenshot_20231004-205805~2.png
 
Well if this is what OP refers to on my chart it shows drop was 1.21% in 5 minutes, not 2% in one minute - and the Yen gained not lost.

! Yen.png


USDJPY is priced in how many Yen do you get for each dollar. Less Yen means Dollar weaker, more Yen dollar stronger.
 
TrAndy2022 said:
This is not the signature of Yen intervention. Yesterday there was a spike and a within a minute the USDYEN lost around 2 percent. And then recovered a lot within a minute too. Now it is sideways. To me it looks like someone had a fat finger and now tries to get out of his big position as smoothly as possible. Maybe also risk manager is involved as they will all loose there jobs when this comes out. Several hundred million USD in loss at least I assume for that huge market order. It must be a mistake like exchanged YEN with USD as value, that could explain it. Anyone heard anything ? It should be quite uncomfortable right now on some trading desks (I assume).
More...
I noticed this too. Nice catch.
 
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