USD/JPY brushes aside jawboning from Japanese officials

The pair fell to a low of 143.45 earlier after remarks by Japan top currency diplomat Kanda here. But as mentioned then, the warnings are merely still verbal intervention at the end of the day – even if they are a step up from what they used to previously remark on the currency.

USD/JPY has brushed aside that in a push back up to 144.00 now, up 0.2% on the day.

It must be noted that 145.00 remains a tough resistance point to break through and there is talk of knock out options at the figure level. That will make it even harder for buyers to chew through or touch that level to seek a further push higher. But at the same time, if we do see that layer give way, expect a quick shoot towards 147.00 next.