USD/JPY: Intervention risk near 160 – Societe Generale

FXStreetNov 12, 2026 9:48 AM

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Societe Generale notes USD/JPY trading just below 160, with Japan’s Ministry of Finance warning markets not to forget FX intervention risks as yields and Dollar strength persist. The pair has reached its highest level since early September before meeting resistance near 160, with clearly defined support and resistance levels and sizeable option strikes that could shape short-term trading.

Japanese Yen faces intervention warnings

"Japan’s Mimura: markets shouldn’t forget intervention risks as USD/JPY nears 160."

"USD/JPY: 159.48 – 159.95 overnight range. Spot up to highest since 2 September before running into resistance near 160 on MoF FX intervention comments (Mimura). Support 158.70, resistance 160.90."

"European and US investors returning from the public holiday find the dollar broadening its CPI-driven gains and key technical levels coming under pressure across the majors. EUR/USD is trading with a 1.10 handle, USD/JPY is approaching 160, GBP/USD stumbled in the high 1.32s and AUD/USD must dig in to defend 0.68."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)

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