• USD/JPY down 0.15% in Asia on optimism about progress in U.S.-Iran talks

• Iran says reviewing U.S. response to its 14-point proposal

• Trump says U.S. operation will aid ships stranded in Strait of Hormuz

• Traders wary of further intervention by Tokyo in thin market to support yen

• Japan’s Mon–Wed Golden Week holiday will amplify impact of any such measure

• Fading prospects of Fed rate cuts, elevated oil prices limit downside

• Support 156.40-50, 155.80-85, 155.50, resistance 157.30-40, 158.00

• Friday range 155.49-157.3250, Asia range 156.66-156.95
Japan has recently had some success with currency interventions:

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