Japanese Yen $NOM intervention possibility
Prime Minister Takichi has warned about the unusual volatility of the Yen, and the market is now quite cautious. USD/JPY is currently around 160, which the Japanese government had defended with large amounts of money twice in 2023-24. The NY Fed's rate check indicates buying Yen or significant intervention. As a result, the Yen has quickly fallen from 158.5 to 155.7. With many short positions and upcoming elections, Japan may take action at any time to maintain the value of the Yen.