The yen fell to its weakest level against the dollar since November last year, approaching an area where Japan intervened last year to prop up the currency.
The persistently large interest rate differential between Japan and the United States weighed on the yen.
Last year, Japanese authorities intervened when the yen fell towards 146 against the dollar.
“Following the recent weak wages and PPI data, weak market expectations for BoJ policy tightening are supporting USD/JPY,” Commonwealth Bank of Australia strategist Carol Kong said.
“Increasing concerns over natural gas supply and surging energy prices also supported the U.S. and Japan.”
The yen has fallen about 9.5 percent against the dollar this year, the worst performer among major developed market currencies.
