USD/JPY returns to the 155 support area
USD/JPY has seen another round of intervention, pushing the pair down to 156.70 after climbing to nearly 164.
The latest move has pushed the exchange rate back to a familiar area around 155. That was the level last tested, but not broken, during the previous round of intervention in April, and that remains the case after the latest intervention.
The 155 level has held before
The 155 level was tested several times during the spring and held firm. It was one reason the previous round of intervention failed to generate meaningful follow-through, ultimately allowing USD/JPY to resume its upward trend.
USD/JPY looks technically oversold
At this point, USD/JPY is technically oversold, with the relative strength index below 30 and the exchange rate trading below its lower Bollinger Band.
This is not a purely technical situation, and traditional technical analysis may not fully apply. Even so, assuming there is no further intervention, the currency pair could be due for a rebound.
USD/JPY daily chart
Source: TradingView, 3 August 2026
