• From an early high of 150.95, USD/JPY down to 150.44 EBS in afternoon trade

• Risk-on mood, Gotobi Tokyo fix importer demand behind early rally

• Mood less exuberant later, demand sated, plenty offers up top pre-151.00

• From area of 150.69 hourly Ichimoku tenkan, spot down towards 150.22 kijun

• Central bank expectations maybe playing part in USD/JPY push back down

• Some investment banks calling for possible May BOJ hike, trading accordingly

• Market still very long JPY but no matter

• News regarding tariffs still a major focus, possible more volatility ahead

• Related , for more click on [FXBUZ]

USD/JPY hourly:

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