• Washington and Tokyo yen-buying is a strong signal, analysts say

• There is nervousness over renewed US-Japan intervention

• USD/JPY has seen a 157.22-157.84 rise, on Tuesday, according to EBS data

• The long-tail on Monday's candle points to a rejection of USD/JPY's downside

• The latest recovery could well be limited by 158.56 Fibo resistance

• 158.56 Fibo is a 38.2% retrace of the 163.99 to 155.20 (July to August) drop

• Recent rounds of intervention puts USD/JPY on course for 2026 152.10 low retest

• Note the 152.10 low was printed on EBS back in January

Daily Chart


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