The USD/JPY pair has risen to the 157-158 range, a traditionally sensitive area for the Japanese authorities, notes Francesco Pisol, currency market analyst at ING.
The Japanese yen faces the risk of rising as the USD/JPY pair enters the intervention zone
“USD/JPY has continued to rise and it is now clear that the 157-158 area is in the intervention zone. However, our view remains that Japanese officials prefer to intervene after a negative USD event, as they did in July 2024. If today’s payrolls report proves to be bad, we may see intervention in USD/JPY.”
