• USD/JPY tracks oil prices lower following Iran-Israel ceasefire announcement

• Note that lower oil prices typically benefits the yen (net importer of oil)

• Yen also underpinned by dovish remarks by Fed's Bowman (typically hawkish)

• Bowman joins Waller in opening the door to a July cut (probability = 22%)

• Support at 145 holds for now (200-hour MA)

• Monday's high at 148 likely marks the interim top for the pair
usdjpy hourly chart

(Justin McQueen is a Reuters market analyst. The views expressed are his own.)