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Oct 27, 2026 6 min read

USD/JPY Near 160 Again: Yen Intervention Watch and the BoJ Decision, October 2026

USD/JPY is trading near 158 into the Bank of Japan's 30 October 2026 decision, back inside the zone where Japan's Ministry of Finance spent a record ¥15.4 trillion in July and August and the United States joined the first coordinated yen-buying operation in almost three decades. 'Yen intervention' is back at the top of forex searches. This guide covers what happened in the summer, what the authorities have said since, what the BoJ is expected to do, where the intervention risk actually starts, and how to trade a pair with a central bank on one side of it.

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