• USD/JPY has fallen into its 159.17-41 hourly Ichimoku cloud

• Move down modest at most however, not necessarily start of trend

• That said, USD/JPY upside recently more limited on Japanese exporter sales

• These sales seen likely to continue in Japan's FY half end in September

• Sales beyond too as exporters move to realize FY budget assumptions?

• Key support below cloud at 159.23 ascending 200-HMA

• Daily Ichimoku cloud base too at 158.92 and 200-DMA at 158.29

• $1 bln in option expiries today between 159.00-25 also seen supportive

• Related comments , , also
USD/JPY hourly:

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