usdjpy long, page-3

-> Yen intervention likely

Morgan Stanley analysts are saying that there is a more
than 51% chance that the Bank of Japan will step into the
Foreign Exchange markets and start buying dollars in order
to drive down the value of the yen, which is hurting
exporters. If this occurs, it will be the first time since
March 2004 that the BoJ has intervened. On Friday the yen
was trading at around JPY85 to the dollar and government
officials are saying it needs to be back around
JPY100=US$1. (Source: TT commentary from japantimes.co.jp,
Aug 21, 2010)