USD/JPY is smashing its way through another big figure, up above 133.00 as I update.

Any time now we should be getting comments from Japanese authorities on wanting the FX rates to move stably, on fundamentals. You know the drill, we've been hearing this over and over for months now as the yen slides.

So far its all been verbal. There has been no intervention in the market to support the yen. The verbal intervention should get more shrill ahead of actual yen buying (this would be undertaken by the Bank of Japan on instructions from Japan's Ministry of Finance - thats how they roll in Japan).

usdyen up trend 08 June 2022