USD/JPY plunging after pop above 145 – verbal intervention fears

USD/JPY popped to a high above 145.20 earlier in the session but has since been slammed lower to circa 144.67.

USD/JPY back around 145 has, of course, heightened the fear of Japanese authorities intervening to support they yen (and thus push USD/JPY lower). The most likely form of intervention at this stage would be verbal, see this for more on what to watch for:

As I post there has been no commentary out of Japan re the yen. That may change.