• USD/JPY settles in middle of 154.545 to 155.86 EBS range as concerns about an escalating Ukraine-Russia conflict weighed on risk sentiment

• Euro-yen relinquished earlier gains after Ukraine fired UK Storm Shadow missiles into Russia

• Firmer Treasury yields, model buying and fix-related activity helps limit USD/JPY losses

• Traders note option flows favor longer-dated downside

• Nearby support below the 154.80 Nov. 19 high includes the 154.45 Ichimoku conversion line and 21-DMA at 153.57

• Needs to move above its 156.27 upper Bollinger, the 156.76 Nov. 15 high and 157.30 July 12 low for upward momentum to build

For more click on FXBUZ