The rebound of the Japanese yen may quickly fade away, and the Japanese authorities may be forced to intervene in the market again.

Japanese authorities' intervention to boost the yen rebound may quickly fade, increasing the possibility of Tokyo entering the market again to support the exchange rate. After a 3% surge on Thursday, the yen weakened again against the dollar in early trading on Friday. While Japan's top foreign exchange official refused to confirm intervention, a source familiar with the matter revealed that authorities did indeed intervene in the market. Another source revealed that US officials were briefed before the intervention action in Japan.