• A more hawkish than thought FOMC Chair Warsh at Jackson Hole, Fed Sept hike?

• Any September Fed hike would deem a BOJ hike neutral

• JGB-US rate diffs little changed however, 2s @252, 10s 174 bps, tad lower

• USD up across the board, USD/JPY to 160 handle, Asia so far 160.05-20 EBS

• Middle East conflict re-flaring too, USD supportive too

• Technically, USD/JPY still below 161.14-162.59 ascending daily Ichi cloud

• Cloud to plunge going forward however, to 159.59 towards weekend

• Spot for now in area of flat 100-DMA at 160.00, recently seen range top

• Japanese exporter sales likely good early as has been recent pattern

• Support likely from area of hourly Ichimoku tenkan currently at 159.77

• Intervention possibility but seen small on Bessent talk

• Bessent doesn't see yen moves as "disorderly", moves "pretty contained"

• G20 coming up but maybe no help from US on intervention front now

• Fibo 61.8% retracement of 163.99 to 155.20 July 28 to August 3 at 160.63

• Option expiries today 159.50-70 $3.3 bln, some at 160.00, 161.00 $953 mln

• IMM CTAs look to have upped yen shorts in latest reporting week

• Related comments , , , also

• US markets , , ,

• On Bessent-talk , , Warsh ,
USD/JPY:

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