Analyst: The Japanese yen may test the 160 level again, increasing the risk of foreign exchange intervention

Golden Ten Data reported on May 20 that Fawad Razaqzada, market analyst at FOREX.com, said that as the key 160 level for the yen comes back into focus, the risk of Japanese authorities intervening in the foreign exchange market to support the yen against the US dollar is rising again. He pointed out: "The outlook for USD/JPY remains firmly on a return to the 160.00 region, which investors are increasingly viewing as the bottom line for Tokyo policymakers." The analyst added: "If authorities stand aside again as the pair approaches this level, market attention may quickly shift to the 161.00-162.00 region."