USD/JPY Rebounds Above 158 After Coordinated Intervention
USD/JPY dropped to 155.20 on confirmation of joint Japan-US intervention, then reversed and climbed back above 158, shifting focus to policy divergence.
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MUFG strategist Teppei Ino reviewed the session’s price action. The pair opened near 157.58 and fell toward 155.20 when official confirmation of coordinated intervention by Japan and the US emerged.
The yen’s strength proved temporary. USD/JPY recovered and moved back above the 158 handle, with traders now watching for further policy signals.
Source: FXStreet Forex News