BUZZ-COMMENT-JPY in buy-back mode, recent ranges history?

Jan 30 (Reuters) - USD/JPY and the yen crosses are heading south fast in holiday-thinned Asia trading Thursday. Tokyo players cite broad-based JPY short-covering and some foreign investor flows into Japanese stocks.

Central bank expectations look to be contributing with the Bank of Japan's more hawkish stance suggesting more frequent rate hikes than previously anticipated nL2N3OO013. The Federal Open Market Committee left rates on hold by unanimous vote on Wednesday but will eventually ease again, especially with pressure from the Trump administration likely to continue nL2N3OO0LC.

As to the European Central Bank and Bank of England, cuts have already been discounted nL4N3K70JN. Sweden's Riksbank cut its policy rate for a sixth time to 2.25% Wednesday nL2N3OP09Y.

USD/JPY is below the base of its recent 154.50-157.00 core range nL2N3OI020, trading down to 154.29 EBS Thursday from 155.26. A break lower looks highly possible now. Key will be whether it trades below Monday's 153.72 spike low and pierces the daily Ichimoku cloud between 153.37-154.49.

EUR/JPY has fallen to 160.86 from 161.79 Thursday and is now below its daily Ichimoku cloud between 161.16-42. Key support below 160.00 is at the 159.74/78 Jan 16-17 double-bottom.

GBP/JPY has pushed down to 192.06 from 193.29 Thursday. Though more buoyant than other JPY crosses, it too could head towards the 189.26 Jan 17 low.

AUD/JPY has dropped to 96.19 from 96.83 Thursday and towards the base of its recent range at 95.48, the Dec 6 low. Though still well above this level, it is now below its 97.79-98.94 daily Ichimoku cloud and capped around its descending 55-day moving average at 97.91. Related nL2N3OQ01T.

Possible Trump tariffs remain a risk but the rhetoric seems more bluster than substance nL2N3OP0T8.

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