USDJPY is trading back above 162 with its 40 year high at 162.84 looming above.
This has raised the risk of BoJ intervention, where its tactics have changed from verbal warnings => then actual intervention to no warning => ambush with covert intervention to keep traders off guard and guessing.
Using 162 as the pivotal level, intervention goal should be to get USDJPY trading below it.
If 162 becomes support then 163,50 becomes the next target with potential for 165.00 if broken.
Meanwhile, with news reports highlighting a 40 year high, the major levels are far, far away (e.g. above 250) from 1985 when the G7 Plaza Accord sent the USD into a spiral lower.
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