USD/JPY intervention: “150 remains a closely watched figure, not a clear line in the sand”

Mizuho on USD/JPY at 150:

• Admittedly, the continued JPY weakness is a concern. While 150 remains a closely watched figure, it
  is not a clear line in the sand.
• JPY weakness will be restrained as JPY bears will be wary of intervention risks.
• Simply put, should the US economic data outperform, the BoJ will likely check pace of JPY
  depreciation rather than maintain a wall at 150 especially amid rising energy prices.
• All in, the USD/JPY to remain buoyed above 148

Decent commentary from Mizuho. I agree, 150 is a round number, not a hard and fast line.

This article was written by Eamonn Sheridan at www.forexlive.com. Source