Japan likely to intervene if yen falls well below 152 vs $, says ex-FX diplomat Yamazaki

Japanese authorities will likely intervene in the currency market if the yen breaks out of a range it has been in for years and falls well below 152 per dollar, former top currency diplomat Tatsuo Yamazaki said on Thursday. Once the dollar climbs above 152 yen, the pair's rise could accelerate and offer an opportunity for authorities to intervene, Yamazaki told Reuters in an interview. The fact Japanese authorities have described recent yen declines as driven by some "speculative moves" suggest the authorities are seriously contemplating whether to step in or not, said Yamazaki, who oversaw Japan's 35 trillion yen intervention campaign to weaken the currency in 2003 through 2004.