COMMENT-Mr Yen says 155.00 is most likely intervention level

Recent comments from Japan's former Vice-Finance Minister Eisuke Sakakibara may lead traders to believe that the level the Bank of Japan is watching is 155.00 and not 150.00.

Sakakibara gained a reputation as a market mover in the 1990s after devising several currency interventions during his time as vice-finance minister, earning him the nickname "Mr Yen". He remains a closely watched figure by markets for his insight on the yen.

His most recent comments were reported on Thursday when he said that the Japanese government may step into foreign exchange markets if the yen goes beyond 150 against the dollar, with officials likely to get concerned if it reaches 155.00, and potentially to 160.00, without government intervention.

Sakakibara expects the tide to turn in favour of the yen after the Federal Reserve's meeting on December 13, with a rise in interest rates in Japan also possible next year. He said that there is quite a big possibility that U.S. monetary policy may change in the near future, so, if that happens, the yen will start to strengthen toward 130 per dollar.