USD/JPY Stabilizes Ahead of US Employment Data Release
The USD/JPY currency pair has stabilized ahead of the US employment data release. The yen is consolidating quietly in a narrow range below its 200-day moving average, around $1.1635.
Most market participants attribute the recent two-day surge in the yen to hawkish comments from the Bank of Japan and speculation about faster BOJ tightening, rather than intervention.
The dollar held above JPY155 as it did during previous interventions, and options for almost 2.5 billion euros expire today at $1.16.