Japan’s PM Kishida verbal yen intervention – recent sharp, one-way moves are undesirable | Forexlive

Japanese Prime Minister Kishida talking about the JPY . This is a step up from having the finance minister or some other official challenge yen weakness.

• Recent sharp, one-sided yen moves undesirable
• Japan’s intervention last month reflected the view that we cannot turn a blind eye to speculative FX moves

The thing about the choice of words here:

• sharp
• one-sided yen moves
• speculative FX moves

These are signals that actual yen-buying intervention is not too far away. The last time the Bank of Japan intervened USD/JPY was above 145.70. That’s not too far away either.

I posted further on these signals to watch for:

The yen has gained a few tics: