According to CoinMeta, analysts stated that now is indeed a favorable time for Japanese authorities to intervene to support the yen. The yen soared significantly on Thursday, and the market generally believes that this trend exhibits typical characteristics of the Japanese government intervening in the foreign exchange market to support the yen, which had fallen to a 40-year low. The US dollar against the yen once dropped by 3% to 158.34, moving away from its 40-year high set earlier this week, and is poised to record the largest single-day decline since the end of 2022. For months, the Japanese government has warned that it would take action if the yen continued to weaken. With the soaring costs of energy imports, the depreciation of the yen has further increased the pressure on residents' living expenses, so the market has been highly vigilant for Japanese authorities to buy yen for intervention. This surge in the yen occurred on the eve of the Bank of Japan's policy meeting on Friday, also after the Federal Reserve decided on Wednesday to keep interest rates unchanged with a divided vote, which contributed to the weakening of the US dollar. Foreign exchange analysts pointed out that position adjustments at the end of the month, weak US economic data, and the overall weakening of the US dollar have provided a favorable opportunity for Japanese authorities to support the pressured yen. Japanese Finance Minister Masayuki Katsumura has repeatedly reiterated in recent times that the government is prepared to take action in the foreign exchange market.