• USD/JPY on back foot in early Asia trading, 159.67 early to 159.27 EBS

• Seems longs from late last week paring positions, no fresh news over weekend

• US-Iran impasse still, crude prices tad higher but nothing major happened

• USD/JPY through base of 159.47-61 hourly Ichimoku cloud, 159.43 100-HMA

• Moving towards possible test of 159.17 also ascending 200-HMA

• Japanese importer bids eyed however on moves towards 159.00, supportive

• This especially with spot date Thursday on Japanese holiday Wednesday

• Thursday month-end, importer demand likely to outweigh exporter sales

• BOJ also expected to hold rates as is tomorrow

• And massive option expiries to downside today between 159.00-10, 158.50-65

• Related comments , , also
USD/JPY hourly:

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