Japan’s overnight currency intervention briefly pushed USD/JPY to ¥158 before a rebound to ¥160.70 as the BOJ left policy unchanged.
USD/JPY climbed back above 160 in European trading after Japan’s overnight intervention drove the pair to a low near ¥158. The rebound, now at ¥160.70, follows the Bank of Japan’s decision to maintain its current monetary policy, as widely expected.
The intervention briefly broke the 100-day moving average but failed to sustain a drop below the 200-day level. The last time USD/JPY traded below both key averages was in July 2023, highlighting the pair’s long-term bullish momentum since late last year.
Price action has since reclaimed the 100-day moving average at ¥160.06, restoring a short-term bullish bias. Market focus remains on whether the rebound will extend or stall amid limited BOJ commentary on the intervention.