🚨JUST NOW: USD/JPY touched 160, then slipped from 159.94 to 159.51 within an HOUR. The 0.27% drop alone doesn’t confirm Japanese currency intervention. But rather, it may reflect traders pulling back as the risk of action from Tokyo rises. Societe Generale warns that a sustained break above 160 could trigger further yen losses, increasing pressure on Japanese authorities to respond. Intervention can offer temporary relief. Lasting support for the yen depends partly on narrowing the gap between Japanese and U.S. interest rates. That puts BOJ policy in focus. Earlier this month, Governor Kazuo Ueda said, “Underlying inflation is 2%. Our goal is to keep it there.” For global markets, the risk is a sharp reversal. A sudden yen rebound could force traders to unwind yen-funded positions, putting stocks under pressure.