USD/JPY: Is intervention a risk near 160? – Societe Generale

Resistance around 160 is testing USD/JPY after the pair climbed to its highest level since early September. Societe Generale notes that it is trading just below 160, while Japan’s Ministry of Finance has cautioned markets against overlooking FX intervention risks amid persistent yields and Dollar strength. Well-defined support and resistance levels, alongside sizeable option strikes, could influence near-term trading.

Could intervention risks shape the Japanese Yen’s next move?

"Japan’s Mimura: markets shouldn’t forget intervention risks as USD/JPY nears 160."

"USD/JPY: 159.48 – 159.95 overnight range. Spot up to highest since 2 September before running into resistance near 160 on MoF FX intervention comments (Mimura). Support 158.70, resistance 160.90."

"European and US investors returning from the public holiday find the dollar broadening its CPI-driven gains and key technical levels coming under pressure across the majors. EUR/USD is trading with a 1.10 handle, USD/JPY is approaching 160, GBP/USD stumbled in the high 1.32s and AUD/USD must dig in to defend 0.68."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)