Currency traders are on high alert for more joint intervention by Japan and the US when trading gets underway in Asia on Monday after coordinated operations in Tokyo and New York last week triggered a dramatic rebound in the yen.

The Bank of Japan and the US Treasury intervened together for the first time since 1995 to stabilize the yen, which had been sliding against the dollar.

Market participants expect further action if the yen weakens below 115 per dollar, a key psychological level. The coordinated effort signaled rare cooperation between the two nations amid rising global economic uncertainty.

Traders are closely watching upcoming economic data releases from both countries, which could influence the yen's trajectory and prompt additional intervention if market conditions deteriorate.