USD/JPY flows: Suspected Intervention and Rate Check

After the slump triggered by U.S. CPI and potentially exacerbated by BoJ's intervention (which is somewhat denied by Kanada as he said he is "puzzled" by media report BoJ intervened), USD/JPY slumped again in the early hours on Friday. Once again the liquidity is thin, seems like a good time for a cost efficient intervention. However, with the fog of war cleared, it seems to be a rate check from the BoJ that spooked the market, instead of an actual intervention. 

With more verbal intervention in the Asia morning, there is destined to be more volatility in the USD/JPY space as we see a rebound of 0.33% currently to 159.27.