US and Japan jointly intervene in the yen? The signal is too obvious, shorts beware of a double kill.

CoinWorld news, TD Securities macro research team stated in a research report that the possibility of joint U.S.-Japan forex intervention to support the yen seems high. The team noted that in an interview on Wednesday, Japan's top foreign exchange official, Atsushi Mimura, repeatedly referenced the U.S., signaling to the market that U.S. officials may agree to bilateral intervention, which would be a more forceful forex intervention. The team said, "In this scenario, the dollar-yen could fall significantly more than the typical 5 big-figure drop seen in past unilateral intervention events." TD Securities believes that Mimura's remarks were intended to issue a clear warning to yen speculators, advising them not to push the dollar-yen below 163.