Yen slides through 162 as long-term resistance breaks

The Japanese Yen (USDJPY) has decisively broken through the 162.00 level, a barrier that had held for four decades. This move pushes the pair to levels not seen since the early 1980s.

The slide comes against the backdrop of a growing Japanese economy, highlighting the persistent pressure on the currency from widening interest rate differentials and market expectations of prolonged monetary easing by the Bank of Japan.

Traders are now watching for potential intervention by Japanese authorities, who have historically stepped in to stem sharp yen weakness. However, no official comments have been made since the breakout.