Yen was again up today – the pair USD/JPY fell from the levels just below 84.65 to set the minimum at 84.05.

Analysts at Sumitomo Mitsui Banking Corp. claim that there will be no intervention from the Bank of Japan (BOJ) today. The specialists note that investors will become more nervous if USD/JPY gets closer to 80 yen level.

At the same time Sumitomo Mitsui points out that Japan’s monetary authorities may intervene if US economic data scheduled to be released this week turns out to be negative driving yen’s rate versus the greenback up.

The strategists advise to watch attentively housing price data on Tuesday (S&P Case-Shiller HPI 20), manufacturing data on Wednesday (ISM Manufacturing Index) and jobs numbers on Friday (Nonfarm Payrolls).

Traders believe that BOJ will make decisive actions to prevent the appreciation of the national currency only if dollar loses 3-4 yen in one day. Market’s participants suppose that neither the United States nor Europe will support Japan’s intervention as they are currently facing serious economic problems.