🚨BIG WARNING: BOJ AGGRESSIVE YEN INTERVENTION HAS STARTED And this is something markets haven't seen in years. In the last 3 trading days, USD/JPY has dumped to the exact 155.7 level. This is not a coincidence. So what's actually happening? After USD/JPY jumped above 160 last week, the calls for "Yen Intervention" started. The very next day, USDJPY dumped over 4%. Over the next 2 trading days, USDJPY tried to recover but dumped again. This is a sign that the BOJ is actively intervening in the currency market. But why is this bad? First of all, BOJ intervention makes the yen stronger, which has historically been bad for risk-on assets due to Yen Carry Trade Unwind. This is only one part. Another reason this is concerning is due to movement in the US bond market. Today, US 2Y, 5Y, and 30Y bond yields showed abnormal volatility. Initially it looked like a glitch, but that wasn't the case. This means someone dumped a large amount of T-bills, which pushed the bond yields. But who could that be? Well, this looks like Japan may be behind this. First of all, Japan has a lot of T-bills. Additionally, the BOJ typically sells US T-bills to fund large-scale interventions, similar to what we are seeing today. What could happen next? Usually "Yen Carry Trade Unwind" takes some time to happen. Looking at the past history, this could take 2-3 weeks, which means a dump in May is highly likely. And this time it won't be limited to crypto only. From crypto to stocks to bonds, everything will go down together.