Intervention watch: what would you do if it happened today?
Japan and the US have already intervened jointly to support the yen this year (report). The question isn't whether intervention can happen again — it's what you'd do in the minutes after.
Walk through your plan:
- which yen positions would be at risk
- how your stops are set for a several-hundred-pip minute
- whether you'd step aside or trade the aftermath
The intervention guide explains the mechanics.
Background: Currency intervention explained: how and why governments step in
When a currency moves too far, too fast, authorities can buy or sell it directly. How intervention works, Japan's record operations and what it means for traders.
What is currency intervention?
When a government or central bank buys or sells its own currency in the foreign exchange market to influence its value.
How much has Japan spent on yen intervention?
About ¥9.2 trillion in September and October 2022, ¥9.79 trillion in April–May 2024 and a record ¥11.73 trillion between 28 April and 27 May 2026, according to Ministry of Finance data. Japan also intervened jointly with the US on 31 July 2026.
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