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fxJun 24, 2026, 8:51 AM

USD/JPY Intervention Risk Caps Downside, Says MUFG

MUFG strategist Lee Hardman notes USD/JPY is trading near recent highs but remains capped below July 2024 peak of 161.95 due to intervention risks.

USDJPY

MUFG's Lee Hardman highlights that the US dollar versus Japanese yen pair is currently trading near recent highs but is held back by intervention risks. The pair remains below the July 2024 peak of 161.95.

Hardman suggests that the risk of Japanese authorities stepping in to support the yen is tempering further downside for USD/JPY, preventing a breakout above that key level.

Source: FXStreet Forex News