USD/JPY Flat at 157.50, Testing 200-Day EMA Post-Intervention
Japan’s record intervention brought the yen back to mid-May levels, with USD/JPY holding just above 157.50 and resting on its 200-day exponential moving average.
USDJPY
USD/JPY changed hands just above 157.50, unchanged on the session and sitting directly on the 200-day exponential moving average, which has risen to meet price.
The pair's daily range was less than 60 pips, reflecting a tight consolidation after the Bank of Japan's record intervention pushed the yen to levels last seen in mid-May.
The 200-day EMA now acts as a technical floor, with traders watching for a potential bounce or break as the week progresses.
Source: FXStreet Forex News