USD/JPY flows: Japanese Officials Kept the Jawboning Pressure

Despite USD/JPY down three days in a row, Japanese officials are keep their verbal intervention pressure. It seems to be an act of commitment to show Japanese residents, the government is trying to avoid excessive weakening of the JPY. In the mean time, the speculative story seems to change to favor the JPY with Bloomberg reporting hedge funds are once again building their JPY long position.

USD/JPY is trading 0.56% lower at 152.36.