• Post-FOMC broad USD strength left USD/JPY bid but USD stronger elsewhere

• As a result, most JPY crosses saw bounces, fall from recent highs

• USD/JPY remained buoyant between 160.54-76 EBS, follows 160.79 high o/n

• Threat of Japan FX intervention again helped limit moves to the upside

• Verbal intervention from Chief CabSec Kihara in place of FinMin Katayama

• That said, Japan importer demand at Tokyo fixes continuing

• Offshore investors also continue to currency hedge Japan stock purchases

• Nikkei to fresh record high of 71,398.58 today despite Wall St plunges o/n

• Barring intervention, USD/JPY likely to remain in limbo on 160

• Specs still eyeing stops above 161.00, massive option KOs at 162.00, 165.00

• In expiries, massive $4.2 bln between 160.00-50 USD supportive

• Also massive $2.3 bln up between 161.00-10 to help cap

• EUR/JPY down a big leg to 184.78-185.06 EBS, from a high of 186.29 yesterday

• Moving back into 184.36-95 daily Ichimoku cloud, 100-DMA in cloud at 184.59

• Out of mkt range but E805 mln option expiries today between 185.95-186.00

• GBP/JPY fell to 213.14 overnight, Asia sees some bounce, 213.02 to 213.98

• 212.84-213.03 daily Ichimoku cloud proving supportive, 100-DMA 212.74

• CHF/JPY off to 200.50 o/n, Asia 200.55-99, around 200.94-201.03 daily cloud

• AUD/JPY 112.50-113.03, back into its 111.73-113.21 ascending daily cloud

• NZD/JPY 92.48-93.07 after fall to 92.45 overnight, lowest since May 6 92.21

• Daily Ichimoku cloud between 92.47-91 providing support for now

• Related comment , also , on flows

• On Kihara-speak , , for more click on [FXBUZ]

USD/JPY:


Nikkei 225:

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