USD/JPY hits intervention zone at 157-158 – ING

FXStreetNov 20, 2025 9:53 AM

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USD/JPY has surged into the 157-158 range, a zone traditionally sensitive for Japanese authorities, ING's FX analyst Francesco Pesole notes.

JPY risks spike as USD/JPY enters intervention territory

"USD/JPY has continued to rally and at 157-158 is now clearly in intervention territory. However, our view remains that Japanese officials prefer to intervene after a USD-negative event, like they did in July 2024. If today’s payrolls prove to be bad, we could see an intervention in USD/JPY."

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