The recent violent fluctuations in the Japanese yen exchange rate have attracted global attention. Speculations of joint intervention by the United States and Japan have created a confrontation with the negative attitude of the United States. Japanese Prime Minister Sanae Takaichi warned against speculative fluctuations, with the 160 mark becoming a key political threshold before the February 8 election. Analyze the logic of the Japanese yen's rebound, the limitations of unilateral intervention and the knock-on impact on the US dollar precious metals market.