[Japanese-U.S. Intervention Effectiveness Questioned, Yen Strengthens Against the Trend] Deep Tide TechFlow reports that on September 7, the yen surged 1.1% to 154.56, reaching its highest level since February and surpassing the peak achieved after the joint intervention by Japan and the U.S. This round of rebound was fueled by rising expectations of a rate hike by the Bank of Japan and speculation about potential shifts in asset allocation by the Government Pension Investment Fund (GPIF). In recent weeks, the market has been questioning the long-term effectiveness of the joint intervention by Tokyo and Washington. Japan's top foreign exchange official, Junichi Suzuki, stated last Friday that his stance on the yen issue remains unchanged, even as the yen was strengthening against the dollar at the time. JPMorgan strategists believe that if the yen breaks above the 155 threshold, further unwinding of large short positions could accelerate the yen's rally. (Jin10)