The USD/JPY currency pair traded around 159.40 yen during European trading hours on Thursday, staying close to the psychologically significant 160.00 level, according to FX Street.
Market participants are watching closely as potential intervention from Japanese authorities appears to be influencing the pair's movement, aiming to curb further yen weakness.
This comes at a time when Japan’s policymakers remain vigilant about yen depreciation, which can impact inflation and export dynamics in the world’s third-largest economy.