The pair just hit an air pocket of sorts, falling from 150.70 to 149.85 before keeping around 150.40 levels currently. The size and pace of the drop is suspicious but I reckon it would make more sense for Tokyo to intervene at 150.00 if they wanted to instead of doing it now. Traders have been cautious to bid the pair up since the break of the figure level, so it's a tough one to read. It still could be intervention and if so, I'm surprised Japanese officials did act with such a weak hand.
USD/JPY 1-minute chart
