2012.05.31 18:21:50 USD/JPY intraday: under pressure.

12:20 (Dow Jones) The Swiss National Bank's reserve data showed that during the month of April FX reserves increased by about $5.47 billion, as the central bank sold Swiss francs to defend its floor for the euro, according to an analysis of changes in the SNB's short forward position in EUR/CHF conducted by Barclays. It's a small amount compared with the SNB's $80.8 billion intervention in May 2010, and Barclays notes that the CHF1.20 floor for EUR/CHF may have come under even more pressure during the month of May. Traders say the SNB has been buying and selling euros this month through Dutch-based Rabobank, as it continues to defend the floor and diversify reserves out of the common currency. SNB would not comment at the time of the trader chatter, nor would Rabobank. (matt.walter@dowjones.com) Call us at (212) 416-3100 or email bradley.davis@dowjones.com (END) Dow Jones Newswires May 31, 2012 12:23 ET (16:23 GMT)