• Middle East tensions still high with US blockade of Iran ports commencing

• Ceasefire holding for now but re-start of hostilities not ruled out

• Risk sentiment up regardless with Wall Street higher, US yields off

• USD/JPY still on 159 but lower than yesterday, 159.15-43 EBS so far in Asia

• MOF jaw-boning, BOJ-speak highlighted threats of FX intervention, BOJ hike

• BOJ Ueda cautious on effects of Iran war but many still see hike this month

• Totan Research/ICAP BOJ hike probability off some to around 40% now however

• Words already from FinMin Katayama on markets, BOJ policy

• USD/JPY back in its ascending hourly Ichimoku cloud between 159.19-46

• Tenkan and kijun above at 159.50 and 159.54, respectively

• Ascending 200-HMA in area of spot at 159.38, descending 100-HMA 159.06

• As was case yesterday, offers from ahead of 160.00, bids pre-159.00

• No major option expiries slated today, only smattering 158.55-70, 160.00

• Related comments , , ,

• And , , also

• US markets , , ,

• BOJ Ueda-speak yesterday , , Fed-speak

• On US economy , Iran , for more click on [FXBUZ]

USD/JPY:

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