Japan ruling party official Katayama spilled the inconvenient truth that Japan lacks effective means to combat yen's sharp falls, as the strong up move in USD/JPY is driven more by USD strength than JPY weakness. It is quite surprising to see an official spelling that out as we have been hearing over the days the verbal intervention rhetoric, plus the BoJ rate check report on Wednesday. This seems to be anti-climax, but maybe the beginning of a call for joint operation between JP and the U.S.
Elsewhere, JP trade balance continual to deteriorate as imports outgrow exports, which is worsen by weak yen. USD/JPY is trading higher at 143.51 from 142.80.