JPY Stays Supported; Finance Ministry May Face Test of Its Mettle -- Market Talk

Dow Jones

Jan 27

0808 GMT - JPY continued to benefit during the Asia session from the momentum that built up after last week's reported rate checks by financial authorities. Michael Brown, senior research strategist at Pepperstone, says market participants remain spooked by the possibility of intervention. The situation has dramatically reduced the appeal of JPY short positions, given that rate checks typically serve as a "last warning" before actual intervention takes place, he says. Brown reckons that the more time goes by without any MoF intervention, the greater the likelihood is that markets will seek to test authorities' mettle--in other words, sell JPY once more in order to discover where policymakers' pain threshold lies. (james.glynn@wsj.com; Twitter @JamesGlynnWSJ)

(END) Dow Jones Newswires

January 27, 2026 03:08 ET (08:08 GMT)

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Michael Brown, senior research strategist at Pepperstone, says market participants remain spooked by the possibility of intervention. The situation has dramatically reduced the appeal of JPY short positions, given that rate checks typically serve as a \"last warning\" before actual intervention takes place, he says. Brown reckons that the more time goes by without any MoF intervention, the greater the likelihood is that markets will seek to test authorities' mettle--in other words, sell JPY once more in order to discover where policymakers' pain threshold lies. (james.glynn@wsj.com; Twitter @JamesGlynnWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 27, 2026 03:08 ET (08:08 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>JPY Stays Supported; Finance Ministry May Face Test of Its Mettle -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJPY Stays Supported; Finance Ministry May Face Test of Its Mettle -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-01-27 16:08</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0808 GMT - JPY continued to benefit during the Asia session from the momentum that built up after last week's reported rate checks by financial authorities. Michael Brown, senior research strategist at Pepperstone, says market participants remain spooked by the possibility of intervention. The situation has dramatically reduced the appeal of JPY short positions, given that rate checks typically serve as a \"last warning\" before actual intervention takes place, he says. Brown reckons that the more time goes by without any MoF intervention, the greater the likelihood is that markets will seek to test authorities' mettle--in other words, sell JPY once more in order to discover where policymakers' pain threshold lies. (james.glynn@wsj.com; Twitter @JamesGlynnWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 27, 2026 03:08 ET (08:08 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"JPY","symbol_name":"Lazard Japanese Equity ETF","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2606674209","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2606674209","pubTimestamp":1769501280,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0808 GMT - JPY continued to benefit during the Asia session from the momentum that built up after last week's reported rate checks by financial authorities. Michael Brown, senior research strategist at Pepperstone, says market participants remain spooked by the possibility of intervention. The situation has dramatically reduced the appeal of JPY short positions, given that rate checks typically serve as a \"last warning\" before actual intervention takes place, he says. Brown reckons that the more time goes by without any MoF intervention, the greater the likelihood is that markets will seek to test authorities' mettle--in other words, sell JPY once more in order to discover where policymakers' pain threshold lies. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"JPY":"Lazard Japanese Equity ETF"},"translate_title":"日元保持支撑；财政部可能面临勇气考验——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"JPY":1.5},"content_text":"0808 GMT - JPY continued to benefit during the Asia session from the momentum that built up after last week's reported rate checks by financial authorities. Michael Brown, senior research strategist at Pepperstone, says market participants remain spooked by the possibility of intervention. The situation has dramatically reduced the appeal of JPY short positions, given that rate checks typically serve as a \"last warning\" before actual intervention takes place, he says. Brown reckons that the more time goes by without any MoF intervention, the greater the likelihood is that markets will seek to test authorities' mettle--in other words, sell JPY once more in order to discover where policymakers' pain threshold lies. (james.glynn@wsj.com; Twitter @JamesGlynnWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 27, 2026 03:08 ET (08:08 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}