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USD/JPY tests 155 as US and Japan confirm yen-buying faster than usual
Japan’s Ministry of Finance, the US Treasury, and senior officials acknowledged the coordinated intervention within hours, setting up a credibility test for whether USD/JPY can hold its recent decline.
USD/JPY extended its intervention-driven slide on Monday after Washington and Tokyo, in a rare move, publicly confirmed their coordinated yen-buying operation within hours of each other, according to Action Forex.
The pair briefly tested the 155 support area before recovering, with traders now weighing both the intervention itself and the unusual speed and clarity of the authorities’ communication as a signal for future intentions.
Action Forex notes the coordination was the first US-Japan currency operation since 2011, but the bigger break from past practice was Japan’s traditionally delayed confirmation. For decades, Japan’s Ministry of Finance has often refused to confirm intervention for days or weeks, using that uncertainty to shape positioning.
The article says the fast acknowledgment included comments from US President Donald Trump, a US Treasury confirmation, and Japan’s Finance Minister Satsuki Katayama providing Tokyo’s definitive confirmation ahead of Asia trading, adding that this week’s US data schedule could further challenge whether the new communication strategy can sustain pressure on USD/JPY near 155.
Latest closeUSD/JPY 157.40 ▼1.7%