USD/JPY Bounces off 157 Amid BoJ Rate Check

ING's Francesco Pesole notes that a brief rate check by the Bank of Japan on Friday pushed USD/JPY below 157.0, suggesting authorities may focus on the pace of moves rather than a specific level.

This approach might help avoid creating a clear line in the sand for markets to target and keep positioning cautious.

However, with the Fed sounding more hawkish than the Bank of Japan this month, ING still sees room for further USD/JPY gains.

A return to 160.0 is considered consistent with current conditions by ING, despite elevated intervention risk.