Takafumi Onodera, head of sales and trading at Mitsubishi UFJ Trust Bank, saidice36casinoJapanese authorities calm down during the holiday seasonice36casinoIntervening in an environment where the trend of USD/JPY can be more obvious.

He said the yen's movements looked like intervention, but markets would have to wait for the release of data at the end of May to get official confirmation

Note: Onodera made the above remarks during Monday's New York trading session. The yen surged against the dollar after hitting its lowest level in 34 years during overnight trading in Asian markets, sparking speculation of Japanese government intervention