• USD/JPY tumbled to lowest since May as BoJ policy shift seen nL1N33Y1AK

• BoJ's new 0.5% 10-yr JGB yield cap was closed above on Friday

• Market now expects at least another 25bp cap rise from Jan 17-18 BoJ

• BoJ's last cap rise was said to fix mkt dislocations, but they've worsened

• The 8-yr JGB yield surged to 0.65%, well past 10-yr's @0.521% close

• Fri's 127.46 low on EBS is closing the gap on major supports at 126.56/37

• Those are 50% of the pandemic rally and last May's major low

• Prices also nearing qrtly tenkan, kijun & 2015's 8-yr peak @127.26/6.55/5.85

• Bounce in Treasury yields and USD IDX low at 50% of pandemic rise cushion

• Focus is now on what exactly the BoJ does with YCC Mon and after Wed's BOJ

• And what comes from Japan's fiscal-monetary policy panel on Mon nL4N33Y0MH

For more click on FXBUZ