BOJ intervention
Updated
What it is
Japanese currency intervention is the government buying or selling yen in the market to steady its exchange rate. Japan's finance minister makes the decision and the Bank of Japan executes the trades, using dollar reserves when it buys yen.
Why it matters lately
Japan is intervening on a record scale. It spent ¥15.4 trillion buying yen between July 30 and late August 2026, its largest monthly amount ever, taking the 2026 total above ¥27 trillion, past the full-year record set in 2024.
Asymmetric Analytics view
Inference (AA): It is the graph's direct signal of official resistance to yen weakness, which bears on carry-trade positioning and dollar liquidity.