In case you missed it, from earlier: BofA cuts USD/JPY year-end forecast to 149 after interventionThis adds to their previous quick take that the joint action by the US and Japan has removed the "ultimate constraint" on intervention. Given the situation, they have revised down their USD/JPY forecast for Q3 2026 to 153 (previously 154) and year-end target to 149 (previously 152). BofA notes that:"The Japanese and US authorities conducted a coordinated FX intervention on 31 July. While the amount of yen buying by the US may be limited, the signaling effect of this rare, coordinated intervention is significant." They outline some key points on what impact the joint intervention may have on the overall market landscape: