• USD/JPY volatile in Asia this morning, to 157.27 EBS early before bouncing

• High so far 158.00, good offering interest still eyed in area

• Massive $4.2 bln in option expiries today at 158.00 helping to cap spot

• Japanese exporter likely behind some of the offers, foreign players too

• Adding to JPY longs on the USD/JPY bounce?

• IMM CTA yen longs double to 101,591 contracts as of Oct 27

• Buying of USD/JPY maybe on Nikkei basing at 56,745.81 after early sales

• Some bargain hunting by foreign players? Fresh currency hedges put on?

• Nikkei has since bounced, around 57,628 now, still -5.6% on day

• Related , for more click on [FXBUZ]

USD/JPY hourly:


Nikkei 225 hourly:

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