• USD/JPY off to 157.27 EBS early before bouncing later to 158.00

• Bounce from ahead of base of 157.17-158.44 daily Ichimoku cloud

• Market still seen heavy from area of 200-DMA at 158.66, 100-DMA at 159.09

• Spot currently in area of 157.90 200-HMA, hourly cloud 158.06-11 above

• Massive $4.2 bln option expiries today helping to cap upside

• Large on 157 too, total $4.9 bln and helping to contain spot action

• EUR/JPY down to 176.49 EBS early before bouncing to 177.12

• Bounce from 200-HMA now at 176.51, still below 177.07 100-HMA

• Resistance too at still ascending hourly Ichi cloud between 177.42-92

• CHF/JPY 192.66 early to 193.39, in 191.54-194.20 daily Ichimoku cloud

• Holding below 193.35-80 hourly cloud, in area of 193.18 ascending 100-HMA

• GBP/JPY 211.54 early to 212.45, off since, back in 210.38-212.74 daily cloud

• Holding mostly between 211.43 and 212.43 200 and 100-HMAs now

• AUD/JPY from early 108.89 low to 109.53 before falling again to 108.90

• Key near-term support at 108.59 spike low October 15

• NZD/JPY 87.96 early to 88.31 before falling again to 87.85

• Lowest since 87.49 on November 26, 2025, 87.20 trough then on November 20

• Data showing continuing wage rises suggests BOJ likely to hike again in Dec

• Related , , on flows

• Nikkei plunges alongside Wall Street overnight, JGBs rally on haven flows

• On Japan data , Nikkei , JGBs
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(Haruya Ida is a Reuters market analyst. The views expressed are his own)