Headline flashing now openly warning that the BOJ is preparing to intervene: JAPAN PREPARES FOR CURRENCY INTERVENTION, NIKKEI SAYS COORDINATED INTERVENTION MAY FOLLOW JAPAN ACTION: NIKKEI We call complete bullshit on this. Never do central banks preanounce when they intervene. Never. This is merely more posturing by the toothless BOJ which now has resorted to spreading rumors in order to get the USDJPY higher. Sure enough: NIKKEI REPORT ON INTERVENTION CITES NO SOURCES Sorry. The knee jerk reaction will hold at most minutes. (full story)