Investing.com -- Coordinated currency intervention allows two or more governments to buy an under-pressure currency simultaneously, increasing market demand and signalling that several authorities are prepared to commit reserves, according to BofA Global Research. Japan and the U.S. carried out coordinated yen-buying intervention on July 31. The immediate objective is to push USD/JPY below 155, a level that became a perceived floor after earlier Japanese interventions failed to break it. FIMA permits foreign monetary authorities to exchange Treasury securities temporarily for dollars, reducing the need for outright bond sales. Related articlesHow coordinated currency buying interventions workStrategist explains why U.S. yen support is built to failWhy is the bearish yen sentiment still strong?