Bloomberg have the report (gated) on a note from Bank of America.
Analysts in Tokyo nominate 140 in USD/JPY
- if USD/JPY gets there it could prompt Japanese government intervention
- BoA say up to USD100bn intervention according to the Bloomberg report.
- says the level could be reached if there is a fresh move higher for US yields
- says the Bank of Japan is unable to hike its rates 'meaningfully' to defend the yen
For sure Bank of Japan Governor Kuroda has said time and again he will not be tightening policy (eg by lifting rates) given CPI levels (well short of target).
USD/JPY weekly candles
