• USD/JPY muted, holding within a tight 162.31-162.60 band

• Spot easing off intraday highs alongside softer oil in London trade

• Iran signals potential willingness to pursue negotiations with the U.S.

• Macro backdrop still USD/JPY supportive - subdued FX vol underpinning carry demand

• But upside still constrained by persistent intervention risk, particularly ahead of 162.84

• Resistance: 162.84 through to 163, support at 162.00-05 (21-day MA), 160.70
USDJPY daily chart


Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))