USD/JPY Range-Bound Around 159.53 as Yen Gives Back Some Intervention Gains

USD/JPY is holding around 159.53, with the pair showing no clear directional move as the Japanese yen trades sideways for more than a week. The yen has retraced about half of the appreciation it gained following the joint intervention by Tokyo and Washington.

The exchange rate remains in a range-bound pattern, leaving traders focused on whether the recent consolidation breaks higher or lower. Intervention-related gains have faded, but the pair has not extended sharply above the current area.

Market participants are monitoring signals from Japanese and US authorities for any follow-up action or currency commentary that could determine the next leg.