• USD/JPY from 158.05 early Asia to 158.18 EBS after the Tokyo fix

• Importer demand behind blip higher, demand now looks to be sated

• Japanese exporters tipped to be on offer above, effective cap?

• Some gravitational pull may be seen from option expiries today at 158.00

• Smattering of expiries above between 158.15 to around 159.00 too

• So-so large below too between 157.50-75 and at 157.00 strike

• Nikkei in rally mode? Up 1.7% @65,542, some bounce after plunge yesterday

• Maybe some foreign currency hedging of equity buys but nothing major

• Related comment , also , for more click on [FXBUZ]

USD/JPY hourly:


Nikkei 225 hourly:

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