Former Bank of Japan member Atsushi Takeuchi, who participated in Tokyo's foreign exchange intervention more than 10 years ago, said that if the yen shows signs of weakening again, Japan and the US will “definitely” take another joint intervention. Takeuchi said that the joint action between the US and Japan has been very effective, and the market has formed a consensus that the yen will not continue to weaken unilaterally. “What is clear now is that, thanks to US support, there is actually nothing that can stop the Japanese authorities from intervening,” he said. “It is of great symbolic significance for the US to stand behind Japan and act.” “If I manage a hedge fund, I wouldn't consider betting on USD/JPY now.” He said that the exchange rate between Japan and the US may fluctuate in the range of 155 to 162 in the short term. “If the yen can stay above 160 for another week or so, the market will regard this level as a short-term bottom and begin to push the yen higher.” “If the yen shows signs of weakening, Japan and the US will definitely intervene again.”

Former Bank of Japan member Atsushi Takeuchi, who participated in Tokyo's foreign exchange intervention more than 10 years ago, said that if the yen shows signs of weakening again, Japan and the US will “definitely” take another joint intervention. Takeuchi said that the joint action between the US and Japan has been very effective, and the market has formed a consensus that the yen will not continue to weaken unilaterally. “What is clear now is that, thanks to US support, there is actually nothing that can stop the Japanese authorities from intervening,” he said. “It is of great symbolic significance for the US to stand behind Japan and act.” “If I manage a hedge fund, I wouldn't consider betting on USD/JPY now.” He said that the exchange rate between Japan and the US may fluctuate in the range of 155 to 162 in the short term. “If the yen can stay above 160 for another week or so, the market will regard this level as a short-term bottom and begin to push the yen higher.” “If the yen shows signs of weakening, Japan and the US will definitely intervene again.”