I know we are all tired of intervention headlines, but with USDJPY approaching 160 again we need to keep it in mind as a volatility risk.
The recent intervention kicked in around the 160.20 level, so traders will be eyeing this closely in the sessions ahead.
As always, there is no guarantee that we see any activity from the bank around these levels though. Recall the 2022 levels around 146.00 and 152.00 was eventually eclipsed without any issues or additional attempts from the bank.
Options activity around these levels are usually punchy so watch out for big strikes around the 160 mark for possible knee-jerk reactions.
