• USD/JPY off 3 big figures yesterday, towards Ichimoku cloud base

• Low yesterday 156.69, more weakness early Asia, 156.82 to 156.11 EBS

• Ichimoku cloud 156.05-158.44 today, base of cloud in spec sights

• 200-DMA left in dust up at 158.55

• USD/JPY now lowest since 155.88 on September 18, some support 156.00 ahead

• With USD/JPY now lower, Japanese exporter likely more active on rallies

• Japanese importers, for their part, could bid their time, buy on at fixes

• Option expiries today 154.95-155.00 $2.1 bln, 156.00 $539 mln

• Above between 156.80-85 $580 mln, 157.00 $1.5 bln, more trail above

• With US yields, JGB-US Treasury rate differentials may have peaked for now

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