USD/JPY Rebounds Capped by 200-day SMA After Intervention-Led Selloff

USD/JPY edged higher during Tuesday’s session, even as the US dollar traded softer. The move reflects the waning impact of recent intervention efforts that had triggered a selloff in the pair.

Meanwhile, the Japanese yen came under renewed pressure, contributing to the pair’s modest gains. The rebound, however, was capped by the 200-day simple moving average, a key technical level closely watched by traders.