Market Outlook: Japanese Yen Strengthens Amid Intervention Fears

Forex - The Yen strengthened this morning against other G-10 and Asian currencies. City Index and FOREX.com market analyst Fawad Razaqzada stated that the focus for USD/JPY has shifted to Japan’s potential for intervention. The analyst pointed out that USD/JPY is currently in the intervention zone between 155.00 and 160.00, where Japanese officials intervened during the summer months. Razaqzada noted, “In light of this risk, the outlook for USD/JPY is far from certain, despite the ongoing strong upward trend.” USD/JPY is trading at 154.98, down by 0.32%.