• USD/JPY and the JPY crosses backed away from overnight highs in Asia

• New of a US-China trade tariff truce but most see some tariffs remaining

• Japanese exporters busy into Tokyo fix, forward yen buys across board

• Japan Inc budget assumptions for fiscal year - USD 147+, EUR 157.45

• Safe-haven flows into yen on hold for, higher US yields USD supportive

• USD/JPY 148.54 to 147.76 EBS in Asia after rally to 148.65 overnight

• 147.88-150.40 daily Ichimoku cloud providing upside cushion, resistance

• Spot now back below 148.15 hourly Ichimoku tenkan, above 147.18 kijun

• Option expiries not a factor today, barriers at 150.00, 139-140 now?

• EUR/JPY 164.58 to 164.16 EBS in Asia after rally to 164.91 overnight

• GBP/JPY 195.62 to 194.71 before steadying, follows rally to 195.79 o/n

• AUD/JPY 94.02-64 in Asia, early push down reversed, high yesterday 94.91

• BOJ Apr 30-May 1 minutes show hawk-bias but suggest hold

• BOJ DepGov Uchida sees wages and prices to keep rising

• FinMin Kato wants FX talks with Bessent at G7 ,

• Risk sentiment much better, Nikkei +1.7% @38,266, Asia mostly in black

• Related comment , also , on EUR/JPY
USD/JPY hourly:


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