• USD/JPY saw a big slump late Asia yesterday, thoughts of BOJ rate checks

• Seems more a matter of long liquidation on Japan intervention threat

• Move fuelled by view US payrolls would be weak, MOF action post-data release

• US payrolls indeed proved to be weak, left USD/JPY lower but no FX action

• From 162.84 Wednesday and earlier Asia high yesterday of 162.60 to 160.90

• Post-payrolls saw low of 160.64 EBS in NY, Asia so far today 161.13-47

• Up some with market confirmation of no Japanese FX action yet

• Demand still strong on dips/falls from Japanese importers, retail/NISA flows

• Less foreign Japan investment currency hedges with Nikkei well off highs

• Support from area of daily Ichimoku kijun at 160.91 despite push below

• Resistance from hourly Ichi kijun at 161.62, 200/100-HMAs at 161.87/162.08

• Large option expiries to contain USD/JPY especially given US holiday?

• At 160.00 $1.3 bln, 160.50 $1.2 bln, some 161.00-15, 161.50 $1.4 mln

• Related comments , , also

• US markets , , ,

• On Japan's MOF , , US payrolls
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(Haruya Ida is a Reuters market analyst. The views expressed are his own)