• USD/JPY up to 160.09 EBS overnight, no Japan FX intervention - yet

• Market still on intervention watch however, Asia range so far 159.83-160.09

• Market obviously wary though probes higher will likely continue

• For now, profit-taking interest from longs, Japanese exporters up top

• Demand still eyed on dips however - from Japanese importers into Tokyo fix

• Institutional and retail specs bids likely too, foreign hedging interest too

• Latter could be less today with Nikkei off after TSE open, Wall St down o/n

• Higher US yields USD supportive, JGB-US Tsy rate differentials tad wider

• Massive option expiries on deck today, both above and below, from 158 handle

• On 159 total $11.4 bln, on 160 $5.8 bln, $3 bln alone at 160.00

• Likely on positioning ahead of US jobs report tomorrow

• BOJ Gov Ueda signalled rate hike late yesterday but already discounted

• Up to MOF to decide whether intervention warranted, plenty JPY shorts now

• US-Iran tensions still but signs of progress? More bluster?

• Related comments , , ,

• Also , Ueda-speak

• On Japan FX action ,

• US markets , , ,

• On US economy , , on Fed ,

• And , for more click on [FXBUZ]

USD/JPY:


USD/JPY nearby option expiries into next week:

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