Yesterday we had some statements out of Japan on approach to 140:
These sort of comments are trotted out from Japanese officials, from the Ministry of Finance, Bank of Japan, and government ministers, when the yen falls quickly.
The comments tend not to have too much of an impact, as you can see. USD/JPY is higher now (circa 140.20) than where it was when we had these comments yesterday (circa 139.50).
The comments will have more of an impact as USD/JPY continues to rise and positioning becomes a little more stretched, and as the statements become more strident (threats of more forceful action such as direct forex intervention, for example).
BOLO for official comments again today after USD/JPY rose once again overnight:
