• USD/JPY abruptly slumped from a session high of 157.99 to 157.53 EBS

• Market nervous over possible Japan FX intervention, maybe another rate check

• Whatever the cause, USD/JPY bounced thereafter to 157.89

• Moves similar to what transpired on Tuesday when USD/JPY rose to 157.75

• Nervousness likely to persist, action seen likely at/above 158.00

• Japan's MOF seen out to punish speculation, rein in USD pre-June BOJ

• Related comments , , also
USD/JPY hourly:

(Haruya Ida is a Reuters market analyst. The views expressed are his own)