USD/JPY on the moveUS Dollar vs Japanese YenFPMARKETS:USDJPYFPMarketsChart studies on USD/JPY show price depreciated notably yesterday, with further underperformance evident in the last couple of hours. I think this is based on two things: heightened yen intervention watch and reports that the BoJ may pull the trigger and raise the policy rate on 18 September. Technically, the pair has rejected resistance between ¥160.66 and ¥160.23, and dipped a toe south of the 200-day SMA at ¥158.46 and support from ¥157.58. Naturally, this has swung the technical pendulum in favour of support from ¥155.54, closely shadowed by ¥154.37 and ¥152.83. Written by FP Markets Chief Market Analyst Aaron Hill