• JPY leads G10 to open the week, Bessent flags recent yen moves as pretty well contained

• Speculation of a G20-side meeting between JP officials and U.S. Treasury Sec Besset adds to yen bid

• USD/JPY back at pre-Warsh levels after stalling above 160

• Upside still looks capped, despite no clear sustained pullback signal

• Warsh's hawkish remarks injects more two-way risk into USD/JPY

• Given the hawkish repricing in U.S. rates, downside U.S. data surprises can hit harder

• Support: 159.17-36 (200-hour MA cluster), then 158.00

• Resistance: 160.20 (weekly high), then 160.81 (July 31 high)
USDJPY hourly chart

Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))