USD/JPY climbed to near 159.60 on Thursday as the US Dollar strengthened on surging Oil prices and fading Fed rate cut expectations, putting the pair within striking distance of the critical 160.00 level.
Japan's MOF has repeatedly warned of "decisive action" against disorderly Yen moves, and 160 is the exact level that triggered nearly $62 billion in intervention spending back in 2024.
Friday's NFP report drops at 12:30 GMT while US equity markets sit closed for Good Friday, creating a dangerous setup where the US Dollar could move sharply on a thin liquidity backdrop.
The BoJ's April 27-28 meeting looms as the next major policy inflection point, with markets pricing roughly a 71% chance of a rate hike
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