• USD/JPY remains bid at recent highs, Asia today 158.79-84 EBS

• Follows blip up yesterday to 159.08, highest since 160.72 April 30

• April 30 when MOF began interventions, another round May 6 from 157.93

• MOF in quandary? To intervene or not to intervene

• Latest USD/JPY rise on broad USD strength, little MOF can really do?

• Latest USD/JPY rise met with only jaw-boning so far, action soon?

• Spot holding for now near top of 156.37-158.91 daily Ichimoku cloud

• Still ascending hourly cloud 158.06-63 below, 100-HMA 158.29

• In option expiries, nothing major nearby today, some 158.00-10, 159.00

• Massive below however with $1.3 bln 157.35-50, $3 bln 156.95-157.00

• JGB-US Treasury 2-year rate differentials wider still to @268 bps

• Differential in 10s holding near recent lows, narrows, NY close @187 bps

• Related comments , , ,

• Also , on Japan jaw-boning/action ,

• US markets , , ,

• On Fed , , US economy ,
USD/JPY:


JGB-US Treasury 2-year interest rate differential:

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