By Rae Wee SINGAPORE (Reuters) – Investors positioning for Japan’s first rate hike in nearly two decades have cooled on outright cash bets on the yen rising and turned to the options market to guard against any potential disappointment. Japanese inflation has run above policymakers’ target for well over a year and Bank of Japan (BOJ) Governor Kazuo Ueda’s confidence that price gains are sustainable has strengthened an investor consensus that a rate rise will happen within months. At the conclusion of its two-day policy meeting this week, the BOJ maintained its ultra-easy monetary settings but …