Says ING:Japanese authorities are permitting USD/JPY to commerce above the April FX intervention levelsPrevious feedback from the highest foreign money official trace the brand new line within the sand could also be near 165Bank of America additionally nominate 165 as the brand new stage for Japanese authorities to step in. BoA argue that if the Financial institution of Japan trim again on JGB buys (the BoJ indicated they will lay out a plan to just do this on the July assembly, on the thirtieth and thirty first) that will not be sufficient to help yen. BoA forecast USD/JPY at 158 at yr finish. Its been a quiet begin to the brand new week for yen thus far. Its coming as much as 8am and Tokyo and 7am in Singapore & Hong Kong so we must always start to get a bit extra motion quickly.