USD/JPY plunged sharply below 158 after a sudden 190-pip drop, raising strong suspicions of Japanese FX intervention following a brief spike above 159. Technical signals now point to fading bullish momentum, with bearish RSI divergence increasing the risk of a deeper pullback. Traders are watching 157.50 as a key support and 159.75 as the critical resistance that could revive upside squeeze risks.
23-01-2026 08:33 GMT
by Kelvin Wong