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USD/JPY holds near 159.4 as intervention risk caps upside
Traders are also watching the US July PPI release later Thursday, with 160.0 viewed as a trigger level for further JPY buying.
The USD/JPY pair was steady around 159.4 in Asian trading on Thursday, with limited upside linked to risks of coordinated or renewed intervention between US and Japanese authorities.
FXStreet notes that US and Japan have jointly intervened in recent weeks to address sharp yen moves, and US President Donald Trump confirmed US participation, describing it as a “signal of friendship.” Market focus remains on the 160.0 psychological level, seen as a threshold that could prompt additional JPY buying from Tokyo.
The article also highlights upcoming data, with the US Producer Price Index report for July due later Thursday, which could influence near-term USD/JPY price action.
On the policy front, it points to the Bank of Japan’s July meeting summary of opinions, where policymakers debated accelerating interest rate hikes due to upside inflation risks, and it cites analysis that the BoJ could consider another rate increase at its September meeting. FXStreet adds that for USD/JPY it sees resistance near 159.5 and support around 158.5, alongside a technical picture that keeps the pair capped below the 100-day simple moving average.
Latest closeUSD/JPY 159.42 ▲0.2%