Japan top currency diplomat: Government, BOJ is extremely worried about recent yen moves

• Agreed at meeting on need to watch markets with strong sense of urgency
• Recently seeing speculative, one-sided rapid yen moves
• Recent yen decline cannot be justified based on fundamentals
• The moves are clearly described as excessive volatility
• Will not rule out any steps, ready to take action in FX market
• All options are on the table

Some of the remarks here are harsher than expected, causing a brief dip in USD/JPY from 143.75 to 143.45 before erasing that drop now just minutes after. But despite the warnings, I reckon they are not yet drawing a hard line on the latest yen decline and we might only get that if there is a quick spike in USD/JPY USD/JPY The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting Read this Term towards 150.00.

For now, I would say the 145.00 mark as well as the 1998 highs closer to 147.00 are still tolerable.