Despite the joint intervention move by Japan and the US, it doesn't seem to be sticking all too much. "After such a large FX drop in USD/JPY, market participants’ appetite for buying the yen could remain muted for now. Those short USD/JPY positions have probably been liquidated but returning to a carry strategy (rather than directional) may be deemed as more attractive once again at these lower levels, encouraging renewed USD/JPY buying ." The joint intervention is a clear enough signal for traders not to get too carried away in the short-term. This exceeds the amount of MOF intervention on 30 April, 4 May and 6 May, which was officially confirmed by the MOF as ¥11.7349 trillion.