• USD/JPY stabilizes near top of its 153.97 to 155.02 daily range on EBS as the S&P 500 firms following upbeat PMI data

• Swings in USD/JPY have been more aligned to US equity market gyrations of late

• Short-covering of crosses and lower yen implieds helps buoy pair

• EUR/JPY looks to close above the top of an expanding cloud at 161.05

• USD/JPY nearby resistance is 155.02 conversion line while support is the 21-DMA at 153.78

• Data next week includes US home prices and PCE, Tokyo CPI, and Japan Services PPI

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