USD/JPY flows: Retesting 160

USD/JPY broke through 160 on Wednesday and we are seeing a retest of the figure in early Asia. We haven't heard any verbal intervention yet as they are still likely in the holiday mood but it cannot be ruled out. If the rally continues and see the pair go up a figure or two in a short run, market participants should brace for actual intervention.

USD/JPY is trading 0.12% lower at 160.25.