(https://www.marketwatch.com/story/with-the-yen-at-a-40-year-low-heres-when-japan-could-intervene-to-catch-the-market-off-balance-63a446c8?mod=mw_rss_topstories) on a US holiday to force yen strength is not dovish policy—it's desperation. A 40-year low on JPY says the BOJ has zero credibility, and a micro-cap Tuesday squeeze to defend it creates exactly the liquidity vacuum that crashes hard once US cash markets reopen.

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