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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.