USD/JPY has printed a clean key reversal after another extended push higher, aided by a series of hawkish policy remarks from leading Japanese policymakers. However, while the yen was the top performer on the session, the timing raises a question mark, arriving on March 30, a day before quarter-end and the end of Japan's fiscal year, leaving open whether the move reflects a genuine shift in direction or is being distorted by calendar-driven flows.
USD/JPY: Verbal intervention slows slide in Japanese Yen – Scotiabank
USD/JPY: Policymakers eye intervention and BoJ hikes – MUFG
USD/JPY pulls back to 159.50 amid rising intervention warnings
USD/JPY: Upside risks with intervention watch – Societe Generale
USD/JPY: Intervention warnings and BoJ tweak – BBH
USD/JPY: Intervention risk grows above 160.00 – MUFG
USD/JPY: Policy clarity and intervention risks – Rabobank
USD/JPY: BoJ normalization expectations into April meeting – BBH
USD/JPY extends gains above 159.50 in risk-off markets
USD/JPY: Japanese data improve as Yen stays soft – BNY
USD/JPY: Range breakout risk grows – Societe Generale