• USD/JPY off to 142.80 EBS yesterday, some bounce but upside likely limited

• Asia 143.76-144.02 so far, resistance from 144.26 flat daily Ichimoku kijun

• Descending daily cloud also 145.68-148.21 above, spot falling with cloud

• Bounce from low yesterday took spot back into hourly Ichimoku cloud for time

• Spot breaking back below this 143.86-144.40 descending cloud now

• Hourly cloud to continue to limit moves up with 144.30 descending 100-HMA

• Plenty of option expiries in area today between 142-145 handles

• Nearby 143.00-05 $2 bln, 143.20-50 $1.7 bln, 144.00 $2.4 bln

• These expiries could help contain spot to 143 handle today

• US yields off from recent highs, JGB yields heading for March highs?

• Some pre-weekend USD buy-backs possible but JPY likely to remain better bid

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USD/JPY daily:


USD/JPY hourly:


USD/JPY nearby option expiries into next week:

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