Why did USD/JPY today swing so widely?

Stronger U.S. jobs data cut near-term odds of Fed rate cuts, lifting yields and the dollar. With Japan markets thinned by a holiday, small orders moved price more than usual. After the initial spike, New York dealings settled near ¥153.23 as liquidity improved and profit taking emerged.

What levels matter for intraday traders now?

The 153 area looks like a near-term pivot, with volatility spiking above 154 where offers recently appeared. Dips into the 152s often attract interest, especially when Tokyo liquidity returns. Use staged entries and exits around big figures, and consider options for protection during data releases.

How does the move affect Euro yen exposures?

EUR JPY tends to track yield spreads and equity sentiment. When the dollar rose on strong data, Euro yen also firmed as rate differentials widened. For hedged European equity positions, shifts in Euro yen can change hedge P&L. Align hedge bands and review basis costs alongside spot direction.

How should Japan investors adjust hedging after this move?

Avoid chasing. Stagger forwards to average entry, and use simple collars to cap tail risk. Set budget rates one to two yen from spot and define stop rules. For options, choose strikes around key figures to balance premium and protection. Recheck counterparty limits when volatility rises.

Global Market Insights

USD/JPY Today, February 12: Yen Whipsaws on Strong U.S. Jobs Data

ByDanny Kontos February 12, 2026February 12, 2026

USD/JPY today whipsawed between the high-152s and high-154s after a stronger U.S. jobs report pared near-term Fed cut odds. With Tokyo liquidity thinned by a local holiday, intraday swings were amplified before New York dealings steadied around ¥153.23. The sharp yen vs dollar move kept intervention risk in view and lifted short-term hedging demand among Japan investors. We also saw Euro yen track the broader risk tone as yields adjusted. For local portfolios, the focus is on FX costs into the Tokyo fix and how exporters, importers, and USD borrowers recalibrate exposures after the spike. Price-sensitive orders around big figures added to the whipsaw.