What's your view on the yen for the next month?
A monthly standing thread for yen views. The BoJ's path and intervention risk make the yen a two-sided bet: policy on one side, surprises on the other.
Share:
- your view and reasoning
- how intervention risk shapes it
- the levels that would prove you wrong
Background: currency intervention explained and the BoJ preview.
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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