The Japanese yen opened little changed against the US dollar on Monday as Tokyo authorities repeated their readiness to intervene in currency markets, following a fresh warning issued by the Ministry of Finance on Friday. Traders remained wary of testing key levels.

Japan's top currency diplomat at the Ministry of Finance said on Friday that officials were watching foreign exchange moves with a high sense of urgency and would respond to excessive volatility. The ministry added that it was maintaining close communication with US Treasury counterparts.

The yen has come under sustained pressure from the wide interest-rate gap between the Bank of Japan and the US Federal Reserve. Markets have been assessing the timing of any further Fed rate cuts after recent US labour data pointed to cooling hiring, a factor that has tempered dollar strength.

Analysts at Japanese banks including MUFG and Nomura have said verbal intervention alone may prove insufficient if the yen weakens further toward the 150 mark, a threshold that has previously prompted direct buying. A weaker yen raises import costs for Japanese households and businesses.

The Ministry of Finance declined to comment on specific levels but reiterated that authorities stood ready to take appropriate action against disorderly movements. The Bank of Japan's next policy meeting remains a focus for currency strategists.