<ul><li>If Tokyo were to intervene, it will do so swiftly and without pause</li><li>Usually will not confirm if it had intervened, even after doing so</li><li>No comment on BOJ rate check</li><li>Will not rule out any options (when asked about chance of FX intervention)</li><li>Government watching FX moves with high sense of urgency</li><li>If yen continues such moves, we will take necessary action</li></ul><p style=““ class=“text-align-justify“>They have certainly stepped up the offensive in terms of jawboning the market, with officials coming out today in full force pretty much. That said, the rhetoric is getting a bit tiresome rather quickly considering the frequency and that might see markets shrug off the threats after a while. In my view, this is the limit to their verbal intervention and that seems to be around the 145.00 mark for USD/JPY.</p>

This article was written by Justin Low at forexlive.com.