Intervention alone won't be enough to pin down USD/JPY, says Goldman Sachs
USD/JPY — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
UOB | Bearish | 163.00 |
Citi | Bearish | 163.00 |
MUFG | Bullish | 146.00 |
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Way to kick someone when they're down. As USD/JPY makes its way back up and threatens to take a look at the 160 level again, Goldman Sachs is out with a note arguing that intervention from Japan's ministry of finance alone will not be enough to keep a lid on the currency pair. Th
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US Dollar To Yen FX Forecast: Goldman Sachs Sees Intervention Risk Capping USD/JPY Upside - Exchange Rates Org UK
The desk believes that intervention risks will limit the upside potential for USD/JPY, as highlighted in the recent commentary from Goldman Sachs. The firm suggests that the Japanese authorities are likely to step in if the yen weakens significantly, capping the pair's movement. This perspective aligns with the current market sentiment, which is cautious about aggressive dollar buying against the yen. Per the full note [source], Goldman Sachs emphasizes that the intervention risk is a critical factor in shaping the USD/JPY outlook.