USDJPY, which stayed bid yesterday even as the USD was softer elsewhere, has extended its high through 156.27 resistance.
Is this the key level that might trigger intervention;
It could be but more likely it would put traders on high alert if it managed to make a move toward 158.
Using this chart, it would need to stay above 156.27 to keep a strong bid but would likely find support below the market unless 155.49 is taken out (assuming no intervention).
POWER OF 50: Notice that yesterday’s low was just below 155.50 and today’s high stalled just above 156.50 (156.54)_, which is another example of the power of the “60” level.