USD/JPY steadies after intervention-driven slump
Yen is stealing the spotlight in an otherwise crowded macro day—and it did not take actual intervention to do it. After pushing through the 160 level earlier this week and hitting 160.71, USD/JPY has staged a dramatic reversal, plunging back toward 155 in a move that has caught traders off guard.
The pair managed again to hit another correction while still facing the support zone of 157.25-65, which could hold prices inside this trading zone toward resistances 160.20 or 161.95. Above 161.95 the market could enter a new uptrend wave with first target toward 163.80.
Hawkish BOJ signals are shifting sentiment, putting pressure on USDJPY while supporting safe havens, as markets begin to reassess carry trade exposure.
USD/JPY drops over 2% as intervention warnings lift Yen after move above 160
The USD/JPY has pushed higher to hit an intraday high of 160.73 today at 2.15 pm mark (Singapore time) that surpassed above the previous “intervention zone' of 160.23/45.
USD/JPY reversed sharply after hitting 160.73 as Japan's “final warning” on FX intervention spooked markets, triggering a 0.9% pullback and boosting the yen. The pair now tests key support levels at 159.05 and 158.60, with downside risks rising if pressure persists.
USD/JPY retreats from multi-month high as Japan's intervention warnings cap upside
The Japanese yen had staged a mild gain of 0.5% to print a 5-day high of 158.96 per US dollar ex-post the Bank of Japan's (BoJ) monetary policy meeting on Tuesday, 28 April 2026.
The US dollar continues to trend upwards following the Federal Reserve meeting, drawing support from the regulator's moderately hawkish stance and comments by Jerome Powell. Markets interpret the Fed's rhetoric as a signal that restrictive policy is likely to remain in place for longer, supporting higher yields and sustaining demand for dollar liquidity.
USD/JPY rises beyond the key 160.00 level, boosting intervention risks
USD/JPY surges to a 21-month high above 160, defying intervention risks as yen weakness intensifies. Rising oil prices and a widening US–Japan rate differential continue to drive upside pressure, reinforcing the pair's bullish momentum.