• USD/JPY unchanged in Asia after trading in a 160.08-160.46 range

• Eases early on intervention fears, light sales by Japanese names

• Buyers emerge as hawkish Fed tilt, higher U.S. yields, oil rally support

• Brent crude hits highest since June 2022 as U.S.-Iran impasse continues

• Net short yen position vs dollar biggest since July 2024 - CFTC

• Japan retail investors hold biggest yen short vs crosses since 2020 - HSBC

• Resistance 160.45-50, 161.00, support 159.80-90, 159.40-50
Crossing the Rubicon:

(Krishna Kumar is a Reuters market analyst. The views expressed are his own.)