• Yen wobbles as intervention afterglow dims, USD/JPY saw a big rise on Monday

• USD/JPY closed up 208 pips, which was the biggest one-day rise since December 2025

• It closed above 158.56 Fibo, a 38.2% retrace of 163.99-155.20 intervention fueled slump

• The long-tail on August 3 candlestick points to a rejection of the USD/JPY downside

• USD/JPY has seen a 158.93-159.37 EBS range, on Tuesday

• Spot is now stuck within the thick 158.92-161.38 daily cloud resistance region

• However beware USD/JPY and EUR/JPY usually struggles in August

Daily Chart


USD/JPY Daily Rise Table


(Martin Miller is a Reuters market analyst. The views expressed are his own)