• USD/JPY still buoyant but optimism over an US-Iran deal biasing it down

• Asia 158.75-159.06 EBS so far following 158.96-159.23 range Friday

• Memorial Day holiday in the US, market holidays in Europe to keep mkt thin

• USD/JPY for now still holding around top of 156.37-158.93 daily Ichi cloud

• Spot below 158.99-159.05 wafter thin hourly Ichi cloud too, 100-HMA 159.01

• Support below from ascending 158.65 200-HMA, bounce from 158.75 early

• 158.59 low May 20, 158.30 May 15, then 157.27 May 14, May 6 low 155.00

• Rate diff on JGB-US Treasury 2s still on wide side, in 10s narrow

• Market looking at one Fed rate hike this year, maybe more, no cuts

• BOJ also expected to hike policy rate 0.25 bps in June

• In options, nearby expiries today 158.50/70 $764 mln, 158.95-159.05 $642 mln

• Just above between 159.20-30 total $1 bln, likely cap for now

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