At the 163-165 level, the intervention script is about to be enacted.

Coin World News, Masahiko Loo, senior fixed income strategist at State Street Investment Management, said the market may now view the 163-165 range as the next key technical and psychological target for USD/JPY, where both position risk and policy risk become more significant. "As USD/JPY approaches 163-165, intervention risk should not be underestimated," Loo said. He added that "the probability of taking action will rise significantly" and "the possibility of coordinated signaling communication with the U.S. Treasury cannot be ruled out," especially in the case of a break above 163, which could trigger stop-loss orders to accelerate the rise toward 165.