• USD/JPY from 147.02 New York PM, 147.78 early Asia to 148.27, easier since

• USD/JPY ceiling lower again? Ahead of 149.00? Descending 200-HMA 148.68

• Holding between the 200-HMA and 100-HMA below at 147.62

• Option expiries at 147.00, at 148.00 and @149.00 helping to contain action?

• Moves in US and Japanese yields factors too but have since steadied

• View BOJ to remain hawkish on data, hefty upcoming wage hike, JPY supportive

• Bias for more downside but market still long yen, Japan importer demand too

• Dips may continue to be bought but overall yen trend still up?

• Related comment , also , on BOJ/economy
USD/JPY hourly:

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