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USD/JPY creeps closer to the 152 level again today

The Yen has remained weak since the US jobs report on Friday helped to push the USD/JPY higher. The USD/JPY jumped back up from closer to 151, to just above 151.75 after the US jobs report exceeded expectations. The USD/JPY later closed in the US at 151.62. It has been edging higher so far today and the high seen has been set at 151.81. The gains remain very tentative this side of 152 though, because the markets are still extremely wary of the Bank of Japan. In fact, we have had yet more warnings from a former BOJ FX monitor (Nakao) just a moment ago. He has echoed previous colleagues comments about the threat of intervention, if the dollar rises much further. It has been stated here many times now, about the importance of that 152 level and so once again the reader is reminded of that level this morning. The USD/JPY is currently trading at 151.80 

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