The pair is currently within an ongoing bullish margin cycle.
Intraday, we must break through the spot zone at 159.15 to suggest further upside potential toward the full margin target, which is currently set at 160.00.
It is essential to maintain tight stop-loss orders to avoid getting caught in another potential intervention. The pair is grinding higher cautiously, wary of the intermittent interventions executed by the Bank of Japan, which continues to signal that further measures remain a possibility.
