Analysts expect next Japan forex intervention around 165

TOKYO -- The next round of Japanese government intervention to stop the yen's slide will likely happen if the currency hits 165 versus the dollar, according to Bank of America Securities and Citigroup.

The yen traded at 160.86 at one point Thursday morning, the weakest it has been since December 1986, after breaking past 160 Wednesday. The yen's slide has sparked speculation about more government intervention. Japan's top currency diplomat, Masato Kanda, issued another verbal warning Wednesday that the authorities were "seriously concerned and on high alert" over the yen's decline.