The currency pair fell 0.7% to 156.43 after coordinated action by US and Japanese authorities to curb yen weakness.
USD/JPY declined 0.7% to 156.43, touching a low of 155.23, its lowest level since May. The move follows a joint intervention by US and Japanese officials after Tokyo’s solo efforts failed to stabilize the yen.
The pair broke below critical daily moving averages for the first time since July 2023, signaling potential further weakness. Prior attempts by Japan’s finance ministry to support the yen had limited impact, prompting coordination with the US Treasury.
Markets are now assessing whether this intervention will sustain yen strength or if further measures will be needed. The symbolic nature of the joint action suggests limits to ongoing coordination.