The Japanese yen surged on Thursday following stark warnings from Tokyo officials, including the finance minister, that intervention to support the currency could be imminent.
Dollar-yen was last trading at 156.72, down more than 2% on the day in a significant move that had traders speculating about possible intervention.
The Japanese finance ministry's foreign exchange division could not be reached for immediate comment.
Analysts are divided on whether the move reflects actual intervention or an exacerbated reaction to verbal warnings by top currency diplomat Atsushi Mimura.
Despite the uncertainty, USD/JPY is likely to take on a more corrective tone for the time being, as market participants remain cautious.