• USD/JPY rallied yesterday to 159.64, Asia so far today 159.26-45 EBS

• Renewed concerns over US-Iran talks, risk off mood again

• Iran said current ceasefire extension US ploy to buy time before attacks

• USD bid as US yields trade higher but JGB-US Tsy differentials in stasis

• USD/JPY back near top of recent, core 158-160 range, FX intervention threat

• Support from 159.21 hourly Ichimoku kijun, 200/100-HMAs 159.08/158.97

• Japanese importer bids eyed back towards 159.00, exporters pre-160.00

• In options, $626 mln expiries today at 160.00, 158.00-159.00 $4.7 bln+

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USD/JPY:


Yield on US Treasury 2s:

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