USD/JPY recovers to trade above 158.00, maintaining a tight range as market participants remain cautious of potential Japanese government intervention.
USD/JPY climbs back above 158.00 but remains range-bound as intervention risks limit yen losses.
The USD/JPY pair rebounded from an early Asian session dip to trade back above the 158.00 level on Monday. Despite the upward move, the currency pair remains trapped within a familiar consolidation range as traders weigh intervention risks against persistent dollar strength.
The pair remains range-bound primarily due to the persistent threat of currency intervention by Japanese authorities, which discourages aggressive selling of the yen.