USD/JPY hit highs circa 145.40 but has quickly dropped back.

It was threatening to pierce 145 prior to the statement (see previous posts) and did so upon the release. The BOJ is uber-dovish while the Fed is the opposite, so USD/JPY strength si expected.

After hitting those highs the currency fell back rapidly.

Which poses the question has there been intervention? If so its very limited, USD/JPY is circa 144.70 as I update.

While there is no sign of Bank of Japan intervention in the market there are signs of large Pension funds and or exporters hitting USD/JPY quite hard, if so its likely on the request of authorities.

USDJPY 145 22 September 2022