• Yesterday saw USD/JPY leg up to 163.99 EBS, a tick shy of 164.00

• Market off since on inability to break above, offers up top, on options?

• Talk of some option barriers, Japan exporter offers likely in mix too

• USD/JPY 163.81-91 so far in Asia, specs likely looking for break above

• Stops likely on 164.00 break, massive option barriers at 165.00 in view now

• Japan's MOF conspicuous in its absence in ordering FX intervention

• Growing feeling among many in market MOF may not intervene at all

• Difficult to act with USD broadly strong, Middle East among factors

• Recently wider JGB-US Tsy rate differentials too, in 2s @281, 10s @189 bps

• US yields up on growing expectations of a more hawkish Fed

• Technically, support from flat hourly Ichimoku kijun at 163.49

• Seems equilibrium of sorts on 163 for now pending maybe fresh breaks up

• Option expiries today include 163.00-75 total $2.4 bln, 164.00 $783 mln

• Related comments , , ,

• And , also , on US Tsy stance on FX

• US markets , , ,

• On Fed , , US claims
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(Haruya Ida is a Reuters market analyst. The views expressed are his own)