• USD/JPY showing bounce into the Europe/London opens, short-covering

• Some bounce in US yields after further falls early today helping

• Massive $1.3 bln option expiries today between 146.45-65 proved supportive

• Despite short-covering flows, market still seen yen long in big way too

• Despite the USD/JPY bounce, market still sees sky falling

• Resistance from descending hourly Ichimoku cloud between 147.52-148.12

• Also descending 100 and 200-HMAs at 147.95, 148.91 as well

• Related comment , also , for more click on [FXBUZ]

USD/JPY hourly:


Yield on US Treasury 10s - hourly:

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