USD/JPY flows: One way train

While Suzuki and Hayashi both seems to have escalated their rhetoric against the JPY weakness, the broad USD strength seems to be in the driver seat. No doubt the pace of JPY weakness has been rapid and we are getting closer and closer to the intervention zone, the language Japanese officials have not been tough and seems to be unable to discourage further offer of JPY. 

With JGB yields turning higher than the U.S. counterpart, the turn in USD/JPY could be swift but in this Asia session we are seeing USD/JPY to trade 0.04% higher at 154.31.