Yesterday the USDJPY reached a high of 159.45 yen shortly after GMT 01:30, before widening concerns over potential intervention following repeated yen-weakening warnings from Finance Minister Katayama and Vice Finance Minister for International Affairs Atsushi Mimura, with support from a statement by U.S. Treasury Secretary Bessent. The price bottomed out at 158.09 shortly after GMT 16:00, and trading for the day closed at 158.42 yen.

Today the USDJPY touched a low of 158.19 immediately after the open but has since shown resilience, reaching a high of 158.64 shortly after GMT 04:30. The pair is trading in the upper 158-yen range as of GMT 05:00.

Looking at the 1-hour chart of the USDJPY (as of GMT 05:00 on January 15), while there was a significant decline, both the lows and highs have been rising. As long as the pair holds above 158.09 yen, buyers appear to be dominant.

(20-period Bollinger Band, showing ±1 and ±2 standard deviations)

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