USD/JPY has traded as high as 84.45 as the Nikkei reports the BOJ is considering more monetary easing. The report further says that the Ministry of Finance is considering unilateral intervention to sell JPY if speculators drive the currency up.
Intervention, it should be noted, is most effective when coupled with policy changes. A move to ease as well as intervene could be afoot. Better part of valor, if short, I’d suggest at least cover a portion of your position….