Bank of Japan intervention is no joke: USDJPY continues to decline
Positive fundamental data from Japan continues to support the yen, with USDJPY quotes trading around the 154.70 level. Discover more in our analysis for 2 February 2026.
USDJPY technical analysis
On the H4 chart, the USDJPY pair formed a Shooting Star reversal pattern near the upper Bollinger Band and is trading around 154.80. At this stage, the pair may continue its downward movement as the pattern plays out, with the downside target at 153.00.
The yen continues to strengthen amid rumours of intervention.
Read more - USDJPY Forecast
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