USDJPY: the pair slipped to 156.00 amid possible interventions

USDJPY is declining, falling into the area around 156.00 amid statements from Japan about the possibility of taking measures to curb currency fluctuations. Details — in our analysis for 23 December 2025.

USDJPY forecast: key takeaways

• Market focus: the yen strengthens amid possible Bank of Japan interventions
• Current trend: a downward correction is observed
• USDJPY forecast for 23 December 2025: 154.35 or 157.00

Fundamental analysis

The Japanese yen strengthened to around 156 yen per dollar, supported by fresh signals of possible intervention by the authorities. Finance Minister Satsuki Katayama stated that Japan has “freedom of action” to counter excessive exchange rate fluctuations.

Her remarks followed comments from Japan’s top currency diplomat, Atsushi Mimura, who emphasized that officials would take “appropriate” measures against excessive exchange rate volatility, reflecting concerns about sharp, one-sided weakening trends in the national currency.

USDJPY technical analysis

USDJPY quotes are declining within the current downward correction. The Alligator indicator has turned downward, confirming the prevailing bearish momentum. The local support level is currently at 154.35.

Today’s USDJPY forecast suggests that the pair may continue to decline toward the 154.35 support level if bears manage to maintain control. An upward move can be discussed if bulls manage to hold prices above the 156.00 level, in which case growth toward 157.00 may follow.

Summary

USDJPY has slipped into the 156.00 area during a downward correction. Market participants remain cautious amid concerns over possible Bank of Japan interventions.

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