Traders say hedge funds are wary of intervention by Japan's Ministry of Finance on Friday to support the yen's exchange rate.
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The trader added that if Waller makes hawkish comments and the US non-farm payroll data supports a Federal Reserve rate hike, the USD/JPY exchange rate could approach 165. However, the trader pointed out that the Japanese Ministry of Finance has issued multiple warnings about potential intervention, and with US markets closed for the holiday and lower liquidity, Japanese authorities may intervene on Friday.
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