• Haven demand sent JPY higher late last week, USD/JPY now around 157.00

• 157.00 likely the "new" 158.00, the new pivot of sorts

• USD/JPY 156.79-157.14 EBS so far today, off full yen from previous range

• With global equities likely heavy now on AI concerns, JPY haven still?

• Japanese exporter, other offers now seen lower by a full yen

• Japanese importer demand still but on dips only, at Tokyo fixes

• Spot ensconced in 156.07-158.44 daily Ichimoku cloud, tenkan/kijun 157.51/55

• Hourly Ichimoku 156.86-157.07, lower, descending 100-200-HMAs 157.56/86

• Option expiries today include $1.3 bln between 156.75-157.00, supportive?

• Also between 157.75-85 $517 mln, whopping $3.1 bln at 158.00 strike above

• JGB-US Treasury rate differentials narrower, in 2s @280, 10s @218 bps

• IMM CTA yen longs up as of last Tuesday to 69,878 contracts from 50,207

• USD bid elsewhere and working to limit yen gains

• Related comments , , , also

• US markets , , ,

• On IMM CTAs , also , for more click on [FXBUZ]

USD/JPY:


S&P Index:


Nikkei 225:

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