#数字资产市场动态 Will the Bank of Japan "defend the market" or just sit and wait? Insiders reveal: in January, they might stay on the sidelines, with real anxiety over currency depreciation.

The yen is once again caught in a volatile predicament. It is reported that the Bank of Japan's focus has shifted from interest rate hikes— they are more concerned about the yen's continuous weakening as a "hot potato." In January, they are likely to maintain the status quo with no action.

This sign actually indicates how cautious the Bank of Japan is regarding tightening policies. What does this mean for traders?

**Short-term**: As long as the central bank shows any signs of movement, officials speak out, or intervene, the exchange rate is prone to sharp fluctuations. News shocks will be frequent.

**Long-term**: Unless there is a fundamental shift in monetary policy between Japan and the US, the yen's depressed pattern won't change easily, and structural pressures will remain.

**Key level**: The 158-160 range is a critical threshold. Once the exchange rate consistently stays above this range, it could open up a larger depreciation space— and the probability of government intervention will also rise significantly. This level warrants close attention.