The Bank of Japan made a weak and unsuccessful intervention in the market


The dollar-yen crossed the psychological level of 150, after which the threats from the Bank of Japan became a reality. The bank intervened in the market and managed to lower the exchange rate quite slightly. USD/JPY initially reached as high as 150.15 and after the intervention fell to 147.31. But the market quickly recovered to levels around 149.20 with a continuing trend to return to levels around 150.
This appears to be a rather weak intervention by the central bank, and further intervention will definitely be needed to calm the market below 150 yen to the dollar.

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