Since the intervention happened on Friday, USD/JPY has been trading in an 80.50/82.00 range. This range will of course eventually break and the direction will depend on what the BOJ does in the next day or so.
Last time the BOJ intervened, it was a one-day wonder, and I think it unlikely that the ECB, Fed etc would agree to any sustained intervention, especially now that the situation in Japan is becoming less critical. The market is anticipating more direct intervention but I can’t say for sure what the positioning is like in the market at present.
