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ForexMediumUpdated•Originally published 7 April 2026•Updated 8 April 2026•

1 min read

Nomura Identifies 161-163 Range for Potential Yen Intervention

A golden dollar sign glows green at the center of a world map, with green lines connecting continents. Currency codes EUR, EPY, JPY, EDF, and GBP are visible at the bottom. An upward arrow is in the t

Key Facts

1Nomura predicts that Japanese authorities are likely to intervene in the currency market to support the Yen if USD/JPY reaches the 161 to 163 range.

about 2 months ago

Version History

Version 1about 2 months ago

What changed: Added Trump's remarks on nuclear war as a new geopolitical driver pushing USD/JPY toward the 160 level.

Nomura analysts expect Japanese authorities to intervene in the currency market if the USD/JPY pair reaches the 161 to 163 range. The pair is currently trending toward the 160 level, recently driven by Donald Trump's remarks regarding the threat of nuclear war. This geopolitical rhetoric adds to existing pressures from Middle East tensions and elevated crude oil prices that continue to bolster the US Dollar. While Tokyo has intensified its verbal warnings, the Yen could find support if the Bank of Japan (BOJ) signals a potential interest rate hike soon. Despite these fundamental drivers, the threat of physical intervention creates a psychological ceiling for the pair. Market participants remain on high alert as the tug-of-war between market volatility and official policy intensifies.