The JPY is the currency of the day after Japanese officials, including the finance minister, signaled they are closely monitoring FX moves for potential intervention.
The JPY is the currency of the day after Japanese officials, including the finance minister, signaled they are closely monitoring FX moves for potential intervention. That came as the USDJPY pushed to new 2026 highs above 160.00—approaching levels last seen in 2024 and, before that, the 1980s.
That warning shot mattered. After briefly breaking above the well-defined 158.00–160.00 range yesterday, the pair has sharply reversed lower today—falling back through the range and flipping the bias. What looked like a bullish breakout has quickly turned into a failed break, with sellers now taking control.
Technically, the move lower has taken the price back below: The 100-day moving average (157.25) The 38.2% retracement (157.49) of the February rally Momentum extended to a low of 155.57, just shy of the 61.8% retracement, before bouncing modestly. The pair is currently trading near the 50% midpoint at 156.50, which is acting as a near-term pivot. Key levels now define the battlefield: Resistance: 157.25–157.50 (100-day MA + 38.2% retracement) Support: 155.50 (near today’s low / 61.8%) Pivot: 156.50 (50% midpoint) In Europe, both the European Central Bank and the Bank of England left rates unchanged.