• Steady in a 157.65-158.00 range so far in Asia, as the uptrend consolidates

• Japan's factory activity shrinks at a slower pace, JibunBk final PMI shows

• PMI rose from 49.5 to 49.6 - manufacturers stayed confident in their outlook

• Treasury yields are steady today - the underlying uptrend supports USD/JPY

• Charts- USD/JPY continues to trade above the rising daily Ichimoku cloud

• The cloud falls away in January, which could slow the uptrend

• 155.71 Tenkan line is initial support, then the 153.92 cloud top

• 5, 10 & 21-day moving averages trend higher with daily momentum studies

• The current uptrend targets a test of the 161.96 2024 top in July
Andy

(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)