USD/JPY fell more than 1% on Tsy yld drop after soft US retail sales and CPI
Watching pivotal 2-yr and 10-yr Tsy yld supports by 4.71% and 4.34%
With JGB ylds trending up due to BoJ's 25bp of expected 2024 rate hikes
Versus at least 50bp of Fed rate cuts, Tsy-JGB ylds spreads tumbled in May
Prices now nearing 30-DMA and tenkan support at 154.54/33
Immediate macro focus is Thur's expected pullback in initial jobless claims
If claims don't pullback or they increase, USD/JPY bulls might bail out
The 10-WMA at 153.33 that held the last two weeks' lows is key support
IMM specs still working off April's 2nd-highest ever net spec USD/JPY long
Never mind possible intervention capping prices by 1990's 160.35 high
Strong US data, Tsy ylds rebound & close above 61.8% at 157.04 key for longs
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