USD/JPY Plunges 20 Pips as Yen Gains Ground
The USD/JPY pair saw a sudden drop of 20 pips, sliding to 158.44 during late Asian trading hours. The move has triggered fresh speculation about market intervention and shifting currency dynamics.
What’s Fueling the Yen’s Sudden Strength?
Market analysts suggest that rising intervention fears played a key role. Japanese officials have repeatedly signaled concern over rapid yen depreciation, keeping traders on high alert. At the same time, softer U.S. economic indicators have revived bets on Fed rate cuts, weighing on the greenback.
- Pair dropped from 158.64 to 158.44 within minutes
- Speculation grows over potential MOF action
- U.S. Treasury yields edged lower, pressuring dollar
- Traders eye 158.00 as critical short-term support
Technically, a break below 158.00 could open the door to 157.50. On the upside, resistance looms near 159.20 if dollar sentiment recovers.