USD/JPY stumbles lower in quick drop before slight bounce back
AUD/USD — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
Société Générale | Bullish | 0.7120 |
Scotiabank | Bullish | 0.7500 |
Commerzbank | Bullish | 0.7100 |
From the original
The dollar did see early gains ease up a little as we got into European trading and that saw USD/JPY pare its advance from 163.70 to around 163.30-40 levels. But in the last 10-15 minutes, there is a quick drop now in the currency pair with it falling by 100 pips to 162.28 before
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USD/JPY makes a quick move lower. Eyes on intervention.
USD/JPY sees a quick knock down today, another intervention hit?
The USD/JPY has experienced a notable decline, dropping over 90 pips to just below the 157.00 level, as highlighted by Justin Low in his recent commentary. This movement appears to coincide with a Japanese market holiday, a timing pattern that has been observed during previous interventions. Despite Japan's Ministry of Finance (MOF) attempts to stabilize the yen, the effectiveness of these interventions seems to be waning as fundamental pressures continue to mount against the currency, particularly in light of geopolitical tensions surrounding the US-Iran conflict. Per the full note [source], the question remains how much capital the MOF is willing to deploy to support the yen amidst these challenging economic conditions.