• USD/JPY recovery from post BoJ low 138.05 peaked 143.54 Tuesday

• Subsequent setback meets 23.6% minimum Fibo retrace requirement at 142.24

• Underlying support daily cloud top 141.83, 38.2% Fibo at 141.44

• Daily cloud twist 140.37 Aug 30 - can often draw price so may limit demand

• Multiple day highs from 7 Jul 144.20 to 30 June/2023 peak 145.07 resistance

• FX options paring BoJ JPY call premiums and covering risk of return to 145

• Market long of options around 144-145 now, so they can add FX resistance

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