Japan's top currency diplomat, Atsushi Mimura, warned Friday that speculative moves against the yen continue, signaling Tokyo's readiness to intervene further.
This follows Finance Minister Satsuki Katayama's statement Thursday that the moment for "decisive action" was near, urging reporters to keep smartphones available during Golden Week.
Hours later, Japan entered the market to support its currency for the first time in nearly two years, sending the yen up by as much as three percent.
Mimura declined to comment on that reported intervention, but analysts warn that thin liquidity during Japan's Golden Week holiday could lead to volatile yen swings.