• USD/JPY traded a 157.65-158.35 EBS range yesterday into/post-FOMC

• Fed held rates as is as generally expected, says awaiting more data

• Economic assessment raised however, suggests hike in December likely

• USD/JPY inside day so far ahead of BOJ tomorrow, 157.70-85 so far

• BOJ hawkish hold eyed, bar high for even more hawkish take

• Japanese exporter offers eyed above 158.00, importer demand into Tokyo fix

• Technically, USD/JPY ensconced in 156.42-158.44 daily Ichimoku cloud

• At top of ascending hourly Ichimoku cloud between 157.32-77

• Support from flattening 200-HMA near top of cloud at 157.70, 100-HMA 157.45

• Large option expiries mostly to downside today, more supportive than not

• 158.85-95 $1.3 bln, 157.00-05 $1.7 bln, 157.15-31 $310 mln

• Also 157.50-75 $764 mln, above 157.90 $940 mln, 158.50 $661 mln

• JGB-US Treasury rate differentials tad wider, in 2s @285, 10s @220 bps

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(Haruya Ida is a Reuters market analyst. The views expressed are his own)