[MARKET UPDATE] USD/JPY reverse earlier losses and extends to a new session high, currently trading at 158.24 and further in possible intervention territory

USD/JPY reverse earlier losses and extends to a new session high, currently trading at 158.24 and further in possible intervention territory.

The USD/JPY has reversed its earlier losses and reached a new session high of 158.24, which puts it near intervention territory for Japanese authorities. This move suggests increased pressure on the Bank of Japan to respond, either through verbal intervention or potential policy adjustments, as sustained strength at these levels raises concerns over currency stability and its impact on inflation.