The currency pair rises 0.41% to 158.39 after US and Japanese authorities intervened in FX markets earlier this week.
The USD/JPY pair climbed 0.41% to 158.39, surpassing its 200-day Simple Moving Average at 158.06. The move follows two days of intervention by US and Japanese authorities to stabilize the yen after recent volatility.
Despite the recovery, the overall trend remains downward, with the Relative Strength Index still bearish. Analysts note that a daily close above the 200-day SMA could pave the way for further gains, targeting resistance at 159.00 and 160.00. Conversely, a drop below the SMA may trigger another decline toward 157.18 or lower.
The yen’s weakness persists amid broader market dynamics, though intervention efforts have provided temporary support.