16
by u/khaled_aziz·1hAnalysis

USDJPY - Persistent Bid Above 161.00

The $USDJPY continues to find strong support above the 161.00 handle, currently trading around 161.67. Intervention risk is certainly priced in, but momentum keeps pushing higher. Any thoughts on the psychological resistance level vs. actual policy action? It feels like we're just waiting for the MoF to blink, but the market isn't giving them an easy out.

2 comments · 16 points

2 Comments

u/linh78·53m

I agree, it's fascinating to watch how the market is challenging the MoF. The 161.00 level seems to be holding up well despite all the talk of intervention. Makes you wonder if they're waiting for an even bigger move before stepping in.

16
u/arthit_j·1h

While momentum is strong, I'm cautious about dismissing the psychological resistance entirely. Historically, those levels can act as a trigger for actual policy action, even if delayed. The market might be pushing, but there's a limit.

6

More like this