Will Japan save JPY again? USD/JPYOANDA:USDJPYBerat_i7USD/JPY is back above 160 again. This is the same danger zone where Japan usually starts getting serious about defending the yen. This time, the setup is more dangerous. The BOJ has its next rate decision on June 15-16, and markets are pricing around a 97% chance of a 25 bps rate hike. Every BOJ hike since 2024 has been followed by a crazy Bitcoin correction. March 2024 hike: Bitcoin dropped around 22%. July 2024 hike: Bitcoin dropped around 30%. January 2025 hike: Bitcoin dropped around 31%. December 2025 hike: Bitcoin dropped over 24% Now the same scenario is coming back while USD/JPY is already above 160. With this scenario, the market is facing two risks at the same time: 1. Japan may intervene to defend the yen. 2. BOJ may hike rates again.