USD/JPY at 52-Week High Ahead of Fed Decision Amid Intervention Risk
The USD/JPY currency pair is trading near its 52-week high of 164.0, up +10.37% over the past year.
With the Fed decision today and a 33% market-priced probability of a rate hike, the next few hours could define the pair's trajectory through year-end.
The setup is charged, with three macro forces colliding: the Fed decision, Tokyo's intervention tripwire at 164, and Japan's fiscal loosening.