• USD/JPY likely to remain bid on dips after closing 0.3% higher on Monday

• Supported by hawkish comments from Fed officials, rising Fed rate bets

• Downside limited as Fed seen as more hawkish on policy than BOJ

• Threat of Japanese intervention in thin markets likely to cap rallies

• Japanese markets closed Tue-Wed; Japan conducted rate check on Friday

• Support 157.00, 156.50-60, resistance 157.50, 158.00-10, 158.60-65

• Monday range 156.58-157.53, Asia 157.30-157.43
JPY:

(Krishna Kumar is a Reuters market analyst. The views expressed are his own.)