• USD/JPY remains bid into Europe/London, short-covering behind moves

• Buoyant JPY crosses on risk-on mood helped USD/JPY higher

• Range so far today 149.17-78 EBS, market grinding higher

• Resistance/offers still up to 150.00, specs eyeing stops above?

• Should these stops be taken out, many see some easing thereafter

• Massive $1.6 bln in option expiries today at 150.00, 149.00 $1.4 bln too

• Aside from short-covering, little other reason for yen sales

• Most on sidelines awaiting BOJ and FOMC policy announcements tomorrow

• Related comment , also , for more click on [FXBUZ]

USD/JPY hourly:

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