• Nikkei off more today and talk some foreign players paring positions

• This would inevitably mean the taking off of currency hedges on the buys

• Nikkei has reversed most of its gains from May, off another 1.6% today

• USD/JPY slump from 163.91 EBS high earlier to 163.28 on back of these flows

• Support still eyed ahead of 163.00 on Japanese importer and other demand

• Specs may also buy further dips on view Fed may hike tonight

• Tech support from ascending 200-HMA at 163.19

• Massive $1.4 bln in option expiries today between 163.00-25 too

• $1.6 bln in expiries between 163.50-90 now to help cap upside?

• Related , for more click on [FXBUZ]

USD/JPY hourly:


Nikkei 225:

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