USD/JPY flows: The Lid Is Barely On

With no progress over the weekend in the geopolitical front, USD is once again receiving haven bids and see USD/JPY rally again. However, the threat of intervention has kept speculators on check. So far, we are only seeing one/two figure rebound from post intervention low, suggesting speculators are careful. 

USD/JPY is trading 0.29% higher at 157.10 after opening more than 10 pips lower than Friday's close.