Is the USDJPY Top In?

While the focus of traders is on USDJPY (current quote 149.40) and whether the BoJ will aggressively intervene, there may be another reason for Japanese officials to resist further currency weakness.As forex traders, we tend to look at interest rate differentials as a key driver of currency values (note, the sharp fall in US bond yields this week). Attention is also paid, in the case of the JPY, to the impact on inflation and exports from a weaker currency as well as the risk of Boj intervention.There is more to the JPY storyHowever, there is more to consider when it comes to the JPYs weakness as it has impacted more than the usual factors.What caught my attention was a Reuters article that indicated the plunge in the J