• USD/JPY remains relatively bid, Asia 158.82-94, still seen range-bound

• Off from 159.25 high Tuesday to 158.59 overnight but relatively bid still

• Back in 156.37-158.97 daily Ichimoku cloud if only barely

• Daily kijun/tenkan have converged at 158.86, 100-DMA below at 157.53

• Market wary of MOF-ordered FX intervention but demand noted on dips

• Japanese importers continue to buy for Tokyo fix, speculators on dips

• Though room for optimism on Middle East but nothing solid, crude oil off

• Fed April minutes hawkish but US yields off

• That said, little change in JGB-US Treasury rate differentials

• Some option expiries today between 158.00-05, at 158.50 below

• Related comments , , ,

• And , also , on US-Iran

• US markets , , ,

• On Fed minutes , , for more click on [FXBUZ]

USD/JPY:


US crude oil futures:

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