Japanese authorities could still intervene to shore up the yen later this month, after refraining from highly anticipated action on Friday, ING's Chris Turner says in a note. The dollar is already back above 162 yen after a no-show from Japanese authorities in U.S. holiday-thinned conditions on Friday, he says. "This could be a reminder that Tokyo wants to use its finite foreign exchange reserves cautiously." The next window for interventions could be July 16-17 ahead of the next public holiday in Japan on July 20. The dollar rises 0.5% to 162.21 yen, having briefly reached a two-week low of 160.51 Friday. The dollar hit a 40-year high of 162.83 yen on Wednesday. (renae.dyer@wsj.com)