According to Jinshi, Meera Chandan, co-head of global foreign exchange strategy at JPMorgan, said that the yen is in a rather unstable area given the lack of action by the Bank of Japan. She predicted that if the market adjusts its expectations for the Fed and the last 30 basis points of interest rate cut expectations are also removed, the dollar-yen exchange rate can easily rise by 3% to 5%. Chandan further pointed out that if the weakness of the yen is indeed a policy concern for Japan, then they need to change monetary policy, and the fact that they choose not to do so gives the green light for further weakness. This week's US data and the Federal Reserve meeting will determine the trend of US yields. If the US data is strong, then the US dollar may rise, but the foreign exchange intervention of the Japanese authorities will not be so effective because the reason for the weakness of the yen is huge policy differences.