JPY review: Western Union

Quotes from Western Union:

- A Japanese official helped talk up the yen from near three-week lows above ¥120. That key level seems to be Tokyo's line in the sand of tolerating currency weakness. 

- Recent breaches of that key psychological level have proven relatively short-lived in recent weeks. Japanese officials may be attempting to slow the yen's rapid descent. 

- The longer run still augurs a weaker yen with the Fed expected to boost interest rates this year.