The yen finally said “enough.” After six weeks of relentless strength, the dollar topped out against the yen on Wednesday at 163.98 — just two pips shy of 164 — and sellers stepped in hard. USD/JPY has since pulled back to around 160.2, and the speed of the reversal has everyone asking the same question: […]
163.98. USD/JPY touched that number on Wednesday — matching April’s spike high almost to the pip — before sellers finally appeared. The question hanging over every trading desk on the planet this morning: was that the market, or was that Tokyo? Why 164 matters politically Japan’s government faces domestic pressure over import costs — energy, […]
163.61. That’s where USD/JPY closed Friday, and the round number just above it — 164 — is one of the most politically sensitive levels in all of FX. Every trader on the planet knows it. So does the Japanese Ministry of Finance. The setup as it stands The pair has risen 100 yen since April, […]