• Flows again saw EUR/JPY surge overnight through 170.00 to 170.54 EBS

• Any 170.00 option barriers now history, Japanese importers in bigger bind?

• Japan Inc budgeting EUR at 157.79 this fiscal year, spot well above now

• Though Japanese imports from EZ not especially massive, ccy impact large

• EUR/JPY off some from highs yesterday in Asia today, 170.10-36 so far

• Next major resistance to upside 171.00 and 171.05 high July 23, 2024

• Support on retracements from hourly Ichimoku kijun at 169.94

• Ascending 100/200-HMAs at 169.46/169.14, hourly Ichi cloud 169.15-36

• Related comments , , Japan Inc
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(Haruya Ida is a Reuters market analyst. The views expressed are his own)