• USD/JPY steady in Asia after trading in a narrow 156.58-157.11 range

• Opened 156.83, rallied on weekend news of Houthi strikes on Riyadh

• Failed to sustain gains as oil fell 2.3% on hopes of US-Iran talks

• Trump says he may meet Iran's president at UN assembly

• Investors relieved as Saudi Aramco ramps up exports via Hormuz Strait

• USD slides to 156.58 before demand surfaces, recovery to 156.94 ensues

• Downside limited as Fed seen as more hawkish on policy than BOJ

• Fed's Kashkari says inflation is still too high in 'all aspects' of economy

• Threat of Japanese intervention in thin markets likely to cap rallies

• Support 156.50-60, 156.00-10, resistance 157.50, 158.00-10;

• Japanese markets closed Monday through Wedensday
JPY:

(Krishna Kumar is a Reuters market analyst. The views expressed are his own.)