It isn't the first time that we have seen such a reaction to a more coordinated jawboning by Japanese officials but the yen is seeing some shorts covered on the day with USD/JPY falling from 133.85 to 133.36 on the statement here.
There is some minor resistance closer to 134.50 for the time being and that has held the pair from breaking higher this week, even as buyers are firmly targeting the 135.00 handle next.
The slight drop on the day isn't hinting at much, with minor support from yesterday's low seen at 133.18 and the 100-hour moving average (red line) at 133.09 being key near-term defense levels to watch.