• Early USD/JPY rise to 10-mo highs imploded by big JOLTS, confidence misses

• Overbought and bearishly diverging RSIs vs the new price highs weighs

• As does the 11.5bp dive in 2-yr Tsy yields and curve steepening

• That steepening due a Nov Fed hike no longer being favored

• And 2024 cuts of more than 1% again being priced in

• Whether those expectations fall or rise is up to PCE & NFP Thur & Fri

• If USD/JPY closes below its 200-HMA at 145.86 props by 145 are eyed next

• The 38.2%, 50% Fibo's of the 138.05-147.375 rise on EBS are at 143.81/2.71

• A post-NFP & ISM close Fri below last week's lows puts the Fibos in play

• If rest of week's US data are firm, Fed-BoJ divergence will limit losses

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