• USD/JPY remains bid, likely to remain so into FOMC policy announcement

• Fed meeting seen "live", 25 bp hike seen possible

• JGB-US Treasury rate differentials on hold, in 2s @280, in 10s @184 bps

• USD/JPY offers still ahead of 164.00 but stops eyed above

• 164.00 seen as an option barriers level, massive barriers above at 165.00

• In vanilla expiries today, between 164.00-25 $750 mln, 163.50-90 $1.6 bln

• More vanillas below, between 163.00-25 $1.4 bln, 162.00-25 $1.6 bln

• Market likely to remain nervous on possible Japan FX intervention

• That said, MOF has not intervened recently, maybe difficult with USD bid

• Hourly chart tech supports at 163.72 Ichimoku kijun, 163.70 tenkan

• Ascending 100-HMA 163.67, hourly Ichimoku cloud 163.63-64, 200-HMA 163.16

• Related comments , , ,

• And , , , also

• On US markets , , ,

• On the Middle East , for more click on [FXBUZ]

USD/JPY daily:


USD/JPY hourly:

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