According to CoinMeta, Mitsubishi UFJ Bank stated that market participants' willingness to buy the Japanese yen may be relatively weak in the short term. Despite joint intervention by Japan and the United States, the effects seem to be not lasting. The US dollar has rebounded above 159 against the yen this week. After a significant decline, market participants' desire to buy the yen may still be weak in the short term. Some market participants, such as retail foreign exchange margin traders, had previously gone short on the US dollar against the yen, but they may have started selling yen again recently as the US-Japanese exchange rate has rebounded. Those positions that went short on the US dollar against the yen may have been closed out, but at the current lower levels, returning to arbitrage strategies may once again be considered more attractive, thus encouraging renewed buying of the US dollar against the yen.