Japan says 39;concerned39; about sharp yen falls
Top currency diplomat says 39;all options on table39;
Tokyo ready to respond appropriately in accordance to G7 policy
Yen fall puts pressure on BOJ ahead of next week39;s meeting
Analysts see low chance of intervention, BOJ policy tweak

TOKYO, June 10 Reuters Japan39;s government and central bank said on Friday they were concerned by recent sharp falls in the yen in a rare joint statement, the strongest warning to date that Tokyo could intervene to support the currency as it plumbs 20year lows.

The statement underscores growing concern among policymakers over the damage that sharp yen depreciation could inflict on Japan39;s fragile economy by hurting business activity and consumers.

But many market players doubt that G7 member Japan will step in soon to directly prop up the yen, a diplomatically fraught and potentially costly course of action that last occurred 20 years ago.

After a meeting with his Bank of Japan BOJ counterpart, top currency diplomat Masato Kanda told reporters that Tokyo will respond flexibly with all options on the table.

He declined to say whether Tokyo could negotiate with other countries to jointly step into the market.

The G7 has a long standing policy that markets ought to determine currency rates, but that the group will closely coordinate on currency moves, and that excessive and disorderly exchangerate moves could hurt growth.

We have seen sharp yen declines and are concerned about…