• Easter Monday holidays to continue to leave USD/JPY trading thin, quiet

• Singapore back but Australia, New Zealand, China and Hong Kong closed

• Should keep things quiet, again focus in USD/JPY to be Tokyo fix

• Both value tom/spot could see good volume, New York open later in day Monday

• USD/JPY 159.44-82 EBS so far, follows 159.44-85 range Friday

• Spot holding just above daily Ichimoku tenkan at 159.37

• In hourly chart, spot also above 159.40 200-HMA, 159.01-31 Ichimoku cloud

• News on Middle East conflict to remain focus, little change, on-going

• Japan FX intervention risk however to help cap moves to the upside

• Soggy risk mood sees JGB-US Treasury rate differentials in stasis

• Down from recent wides but could bounce, widen again, US NFP data strong

• Market still eyeing BOJ rate hike this month, also help cap USD/JPY

• Some option expiries today at 158.00, 159.00 strikes, between 159.95-160.00

• Also above between 160.85-161.05

• Related comments , , also ,

• On US Treasuries , US economy/Fed ,

• On BOJ , , for more click on [FXBUZ]

USD/JPY:


JGB-US Treasury 2-year interest rate differential:

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