Buying following the U.S. PMI ran its course, leaving USD/JPY nearly flat in the low ¥158s as of 3 p.m. Buying and selling by real-demand players crossed, while concerns about BOJ intervention continued to simmer.
USD/JPY was 158.21/158.23 at 3 p.m., nearly unchanged from late trading in the previous day's New York session. After buying following the U.S. PMI ran its course, the pair temporarily fell into the ¥157 range on selling by real-demand players before rebounding into the ¥158 range.
The dollar was under selling pressure in the morning and fell to the upper ¥157 range, but thereafter fluctuated around ¥158 again. Buying and selling in the low ¥158s are currently intensifying. Market participants reportedly said that concerns about intervention following the BOJ's rate check also continued to simmer.