USD/JPY holding on 158, caution prevails
USD/JPY did little yesterday, 158.03-85 range, Asia today 158.28-43 EBS
Japanese importers seen sated for now, today's Tokyo fix in balance?
Dips will be bought however, Japanese exporters offers on rallies
Range trading on 158 the prognosis in Tokyo, caution on FX action prevails
Market seen essentially between 157.64 55-DMA, 158.84 daily Ichi kijun
Spot now holding just above 157.75-158.31 hourly Ichi cloud, 55-HMA 158.22
Descending 100 and 200-HMAs above at 158.82, 159.94
Option expiries today 157.00-10 $893 mln, 158.40-60 $1.9 bln, 159.30-45 too
Massive expiries between 158.40-60 today to help anchor spot for now?
US yields soft, Treasury 2s flat @4.433%, 10s off and @4.166%
Market now looking for as much as 100 bps in Fed rate cuts by March
BOJ to remain accommodative, economy still patchy nL4N3J803Z, nL4N3J601V
Related comments nL1N3J80SE, nL1N3J807V, nL1N3J402N, nL1N3J2015
Also nL1N3J80VT, on Fed-speak nL1N3J811K, BOJ/JGBs nL1N3IN01O
US markets nL1N3J80UQ, nL1N3J812B, nL4N3J815F, nL1N3J801J
For more click on FXBUZ
USD/JPY: https://tmsnrt.rs/3Lt4RXA
USD/JPY hourly: https://tmsnrt.rs/3xYysoS
USD/JPY nearby option expiries this week: https://tmsnrt.rs/4d6OVGb
(Haruya Ida is a Reuters market analyst. The views expressed are his own)
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